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A REGIONAL OVERVIEW OF THE<br />
WESTERN CAPE<br />
The Saldanha Bay Industrial Development Zone is targeting the<br />
marine and oil and gas sectors. Credit: SBIDZ<br />
<strong>Cape</strong> Town’s new stock exchange is based on smart technology,<br />
something the <strong>Western</strong> <strong>Cape</strong> is rapidly becoming famous for. Special<br />
economic zones at Atlantis and Saldanha aim to tap into growing<br />
markets – maritime, oil and gas and renewable technologies.<br />
By John Young<br />
As a way for the <strong>Western</strong> <strong>Cape</strong> to show off<br />
its growing reputation as a tech-friendly<br />
destination, the launch of the <strong>Cape</strong><br />
Town Stock Exchange in August 2021<br />
was an ideal event.<br />
When several new bourses launched in 2017 most<br />
of them put an X in their names and all of them based<br />
themselves in Johannesburg. In 2021, 4AX made the<br />
move south and rebranded as the <strong>Cape</strong> Town Stock<br />
Exchange. Not only does this give the exchange<br />
immediate access to a global brand, but it puts<br />
them at the heart of an area which has been home<br />
to financial institutions for as long as there have been<br />
banks and insurance companies in South Africa.<br />
A more recent trend has seen asset managers<br />
setting up in the <strong>Cape</strong>. Of the 20 finalists named for<br />
the 2020 Morningstar South Africa Fund Awards, 13<br />
have their headquarters in the <strong>Cape</strong>. Seven of the<br />
top 10 managers in the Plexcrown Ratings of 2019<br />
are based in Newlands (MiPlan), Victoria & Alfred<br />
Waterfront (Allan Gray), Claremont (Coronation),<br />
Bellville (PSG and Boutique CI), Pinelands (Old Mutual)<br />
and Westlake (Prescient).<br />
<strong>Cape</strong> Town also, according to the Global Financial<br />
Centres Index (GFCI), ranks second in Africa in 2020<br />
(behind Mauritius) in competitiveness as a financial<br />
centre. The ranking is an aggregate of indices<br />
covering five things: business environment, financial<br />
sector development, human capital, infrastructure<br />
and reputation. Neighbouring Stellenbosch is<br />
advancing its reputation for technological innovation<br />
and the output of the region’s four universities and<br />
six TVET colleges ensures that the tech sector has the<br />
necessary human capital.<br />
WESTERN CAPE BUSINESS <strong>2022</strong><br />
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