Since the Industrial Development Corporation’s (IDC) North West regional office opening in 2008, it has invested R6.2 billion in the province.
In the past four years (up to the 2013/14 financial year), the IDC has approved R4.9 billion to 38 companies in the North West, creating 24 998 direct jobs in the mining, agriculture, manufacturing and tourism sectors.
The IDC’s presence certainly made an impact in the province. The North West’s growth domestic product (GDP), heavily based on mining gold, platinum and chrome, had exceeded the South African rate in the first quarter of 2013, standing at 3.5% compared to the nation’s quarterly average of 0.9%.
The province’s growth rate was a vast improvement on its 2012 fourth quarter figure, 0.2%. Rustenburg had experienced a GDP rate of 10% for five consecutive years before the mining strikes began in 2012. The province has an economy twice the size of neighbouring Botswana, and almost as strong as Kenya’s.
The North West regional office is now looking to broaden its focus to include tourism. With Pilanesberg and Sun City increasingly attracting local and international tourists, and the provincial government planning to redevelop the N18 route through Taung, the IDC is looking to tap into an industry it believes has the potential to grow.
32B Heystek Street,
Postnet Suite 290,
Private Bag X82245,
Tel: 014 591 9660/1
Fax: 014 592 4485
The CEO Regional Roadshow got underway in North West on 11 August 2016. Download the supplement for the event in PDF format.
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