Go 2 December 2021

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Pakati discusses
BCM future with
business leaders
Recovery and investment plans unpacked
CASH INJECTION: BCM executive mayor Xola Pakati announces a new multi-billion rand
investment into the ELIDZ earlier this week Picture: BCM/FACEBOOK
Mayor welcomes R3bn investment
MATTHEW FIELD
BCM executive mayor, Xola
Pakati, said he welcomed a new
R3bn investment into the ELIDZ,
during an announcement earlier
this week.
“We are proud to be
associated with the ELIDZ as a
minority shareholder and a
critical stakeholder for the
Special Economic Zone,” Pa k a t i
said.
“The ELIDZ has been part of
the development of our longterm
vision, the Metro Growth
and Development Strategy
[MGDS], and as such the entity
has been able to locate itself
within the strategy, more
particularly what it can bring in
order to ensure the success of
the strategy.”
Pakati said that as a new city
council, it was important to
build relationships between the
municipality and business, to
grow the local economy.
ELIDZ CEO Simphiwe
Kondlo said: “We are proud to
be part of this automotive sector,
it’s a sector that we should
continue to both grow and
d ive r s i f y.”
“We are excited that today
the investors we are announcing
will be contributing to more
than 2,000 direct jobs in the
c i t y.”
SIPHOSIHLE DYONASE
Newly inaugurated
Buffalo City Metro
executive mayor Xola
Pakati hosted a stakeholder’s
interaction business breakfast
at the East London ICC on
We d n e s d ay.
The executive mayor held
discussions with business
stakeholders on key
commitments and strategic
priorities for the term between
2021 to 2026.
Organised business
stakeholders who were
expected to share their
messages and expectations
included the Border Kei
Chamber of Business, Nafcoc,
the Black Business Council and
labour representatives.
“It gives me great pleasure
to be speaking to you in this
breakfast meeting which is
held to update the stakeholders
of Buffalo City Metro about the
activitie that will receive
priority in the current term of
c o u n c i l ,” the mayor said. The
latest employment statistics
released by StatsSA, which
showed unemployment in the
metro sitting at a high 41%,
were worrying Pakati said,
while assuring that the city was
taking action.
“To address this reality, we
are already considering an
Economic Recovery and
Investment Plan for the city,” he
said.
The recovery and
investment plan would involve,
among other priorities:
● Using infrastructure, tourism
and other investments to
stimulate economic recovery
to see output growth of
between 3 to 5% over the
Medium-Term Revenue and
Expenditure Framework
period;
● Addressing integrity issues in
the billing system as part of the
efforts of improving the
collection rate of the city;
● Undertaking expenditure
reviews to find wastage and
areas where there is less value
for money, which can then
enable reprioritisation.
“We have catalytic
programmes for the West Bank
[around an export logistics
hub], around the inner city and
beachfront [around tourism,
hospitality and commercial
property development], a
transport corridor between the
East London CBD and the
Mdantsane Urban Hub, a new
corridor development between
Beacon Bay and Gonubie, and
a corridor development
between Zwelithsa, Qonce
and Bhisho.
“We are steadily making
progress on each of these
catalytic programmes, putting
critical road infrastructure in
place as well as investing in
bulk infrastructure,” the mayor
said.
He also said BCM
Development Agency
(BCMDA) had a number of
projects prepared for private
i nve s t m e n t .
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