The Mnquma Local Municipality centred on Butterworth will host an investment summit on April 20 to explore opportunities for reviving the local economy.
For many years under the former regime’s economic decentralisation strategies, Butterworth had a relatively thriving business environment.
Now the municipality’s leaders are keen to revitalise the town’s stuttering economy and hope to be able to table business and investment opportunities, as well as address the challenges to doing business within the local authority’s jurisdiction.
Current municipal manager Sindile Tantsi says Butterworth’s former status as an industrial centre and economic hub for the region is well-documented and the municipality wants to set in place a business environment that restores the town’s former glory.
Mnquma has an economy valued at over R2-billion centred on government services, finance, trade and hospitality, with a small manufacturing sector.
The town has remained resilient despite the massive disinvestment that occurred just before and during the early years of the democratic era as decentralisation tax schemes were scrapped.
Factory structures remain viable and the municipality points to a “residue of skilled” labour that can be employed with little or no additional training.
On the tourism front, Butterworth is a gateway to the Wild Coast.
Executive mayor Baba Ganjana says that while the municipality has achieved a good track record of service delivery, local government recognises the important role of business in growing the economy. “We need adequate and effective investment to ensure a better quality of life for our people.”
Municipal spokesman Loyiso Mpalantshane says the council’s plans for kick-starting economic growth include infrastructure upgrades and shortening turnaround times for processing development plans, zoning and other applications for services.
“The municipality is a willing partner to potential investors, ready to create an investor-friendly environment, and to ensure political and administrative stability. It undertakes to provide reliable information to investors, assist especially foreign investors with business permits, and assist all investors to locate suitable premises.”
According to the municipality, the areas of business opportunity include agriculture, mining, construction of public sector infrastructure, property, energy, bio-engineering, manufacturing, retail and tourism.
“Informal trade also plays a big role in the daily lives of our people, hence it is important that it be nourished and supported to grow into thriving businesses thus providing sustainable employment to others.”
The investment summit will take place at the Ibika campus of Walter Sisulu University in Butterworth and starts at 8am.
Visitors will be taken on a tour of business and factory sites to get a better understanding of the opportunities.
For further information, contact Loyiso Mpalantshane on 076-940-1628 or 074-373-7860.