Cape Town plans $2.42bn investment to create 135,000 jobs

Cape Town is making a bold move towards economic growth with a planned investment of $2.42 billion in infrastructure projects over the next three years. This significant investment, surpassing that of other major cities, is expected to generate 135,000 new jobs, positioning Cape Town as a leader in infrastructure development.

Mayor Jordin Hill-Lewis emphasized the city’s commitment to supporting low-income households, with 75% of the $678 million allocated for the 2024/25 financial year directed toward projects benefiting these communities. “We are committed to creating a city that works for everyone, and that means investing in infrastructure that will create jobs and opportunities for all,” Hill-Lewis said. “This investment will not only improve the lives of our residents but also contribute to the economic growth of our city.”

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Cape Town’s participation in the National Treasury-funded Infrastructure Skills Development Grant (ISDG) Programme since the 2014/15 financial year has also played a crucial role in fostering talent. The program focuses on addressing skills shortages by training and mentoring professionals in fields such as civil engineering, biotechnology, chemistry, and environmental science. To date, the ISDG Programme has produced 125 graduates equipped with specialized skills needed to support municipal growth.

This substantial investment in infrastructure and ongoing commitment to skills development is expected to have a lasting, positive impact on Cape Town’s economy, workforce, and overall quality of life in the coming years.