Colloquially named the Mother City, Cape Town’s growth has been unprecedented and is fast becoming the Africa’s equivalent of the Silicone Valley. The region exists as a gateway to the rest of the Continent and Invest Western Cape confirms that Africa’s population is set to grow from 1.1 billion to 2.4 billion by 2050. Cape Town alone has met 299 direct investments in just under 9 years attracting over US$7.6 billion worth of FDI. The rate of growth is impressive, and Vorto Trading are keen to be part of this growing market.
Here exists a hub of energy, including financial firms, start-ups and tech tycoons redefining the future. Cape Town’s allusive infrastructure not only attracts the entrepreneurs on the hunt for the next big thing, but investors and venture capitalists keen to invest in the innovative region. Deservedly, this innovation has afforded the city the name ‘Silicon Cape’.
This dynamism is reflected in Cape Town’s prosperous financial services sector. In 2016, Cape Town’s financial services sector was the largest contributor to GDP contributing ZAR43 billion. Between 2011 to 2016, the sector has experienced an average consistent growth of 3.8% year on year, Invest Cape Town confirms.
In addition to this, Cape Town is home is a significant proportion of private investment and asset management services. The port city has quickly become a worldwide financial services hub.
Brimming with opportunity, start-ups have greater access to funding and to VC in Cape Town. In 2015, the Southern African Venture Capital and Private Equity Association revealed that the Western Cape has the most VC activity in South Africa. Approximately 75% of all VC activity in South Africa happens in Cape Town.
What makes Cape Town attractive to investors is the undeniable talent that exists in the region. Venture Burn shares that Silicon Cape has its own standout tech success stories, including Cloud computing leader, Amazon Web Services. This kind of momentum influences the universities in the region who are attracting investment from technology companies to fund research. For example, the University of Cape Town (UCT) has secured corporate backing by Samsung, who has funded a laboratory that specialises in the development of mobile applications. What’s more, Invest Cape Town confirms that the region has the highest mathematics pass rate and the greatest number of applicants qualifying for university in the South Africa. The investment in education and advancement will surely pay off with a stellar cast of students graduating in future years, ready to join the job market in the region.
Invest Cape Town presents the city as a place that offers a world class infrastructure, one that fosters an environment for businesses to grow – and quite rightly so. Home to thriving sectors, including tourism, oil and gas industries to agriculture, there is a plethora of reasons to invest in Cape Town.
With so much growth and energy into the region, Vorto Trading is proud to be opening an office in Cape Town as part of the business’ wider expansion strategy. If you would like to know more about Vorto and our International presence or specifically about opportunities we see in South Africa, email [email protected] or visit www.vortotrading.com