Cape Town top city for FDI

According to Foreign Direct Investment (fDi) Intelligence, a division of the Financial Times, Cape Town has been listed on the Global Cities of the Future 2016/17 as one of the world’s top cities for foreign direct investment (FDI). Cape Town, the only African city listed, was ranked 21st for its FDI strategy.

Alderman Ian Neilson (pictured), Cape Town's Executive Deputy Mayor, said in a statement:

"This accolade is indeed a massive feather in Cape Town's cap as it recognises all the ongoing efforts being made by the City and its private sector partners to ensure that Cape Town is on the international map for business and investment. Attracting investment has been part of our strategy since 2006 where we set out to engage with the international community to promote Cape Town as an ideal place to invest in so that we can create much-needed jobs for our people."

According to Neilson, the City recently launched Invest Cape Town, an initiative aimed at sharing the economic successes and attractiveness of Cape Town as a globally competitive business destination with the world. The strategy has started paying off, he says: "A number of companies setting up their headquarters in Cape Town. Cape Town is home to most South African retail giant headquarters and investment houses. We are the green hub of Africa, accounting for most of the local manufacturing for the national renewable energy programme."