Africa’s largest mining investment event, the annual African Mining Indaba held in Cape Town, makes a significant contribution to the local economy, and injected R610-million into the economy between 2007 and 2015 while also creating close to 5 000 job opportunities.
Mayoral Committee Member for Economic Opportunities and Asset Management James Vos speaks about the benefits of the conference for the city.
“It remains one of our signature annual conferences, directly bringing in revenue and trade, and indirectly creating goodwill and new partnerships.”
The conference attracts leaders and stakeholders in the industry from around the country and the continent at large, including President Cyril Ramaphosa, President of Ghana Nana-Akufo Addo, 35 mining ministers and many other influential names in African mining.
“We are pleased that this year the Africa Mining Indaba has attracted the largest number of investors, mining executives and junior miners from across the globe for this leading deal-making forum.”
The theme of the conference this year is “Championing Africa’s Sustainable Economic Development”.
Compared to other mining conventions, the African Mining Indaba provides an enhanced level of expertise along with access to the entire value chain.
Vos says, “While [Cape Town] may have extremely limited mining activities in this part of the country, [it is] becoming a centre for global business that stretches beyond traditional boundaries.”
An initiative called Invest Cape Town has been launched to position Cape Town as a globally competitive business city.
Vos explains that the new initiative is aimed at growing the local economy by showcasing what Cape Town has to offer in terms of business potential.
“Our Invest Cape Town initiative is the mechanism through which the business narrative of the City is being driven. It creates a platform for stakeholders to share successful investment and business case studies, data around sectors and information relating to investment.”
Invest Cape Town hopes to create an authentic narrative about what Cape Town stands for as an investment destination by building off success stories from, and competitive advantages in, the Mother City.
The African Mining Indaba is offering a bursary to a University of Cape Town student to carry out a study on the economic impact of this year’s event.
Among the successes that have come from the annual conference, it has also helped to establish Cape Town as “the World’s Leading Festivals and Events Destination,” according to Vos.
Picture: Mining Indaba, Facebook
