eThekwini attracting investment from the US

eThekwini City manager Musa Mbhele

eThekwini City manager Musa Mbhele

Published Jun 23, 2024


Investors in New York, US, have indicated interest in investing in the eThekwini Municipality.

In a statement, the municipality said the economy of eThekwini Municipality has received a major shot-in-the-arm after investors and captains of industry from various sectors in the US pledged new future investment.

This follows a series of strategic engagements which are being held in the US led by chairperson of the Economic Development and Planning Committee Councillor Thembo Ntuli.

The City said this is a welcome boost for the City and an overwhelming vote of confidence in the economic fundamentals which define Durban as a conducive investment destination.

It said the overarching message delivered by eThekwini City Manager Musa Mbhele is that ‘Durban is open for business’.

Addressing the delegates in New York during the reSURGEnce investment power breakfast session and activation, Mbhele said:

“We are here to cement linkages between Durban and US-based investors and businesses. We invite you to work with us, invest with us, reap the enormous benefits that will flow out of this reSURGEnce Conference which will be held in Durban from 17 to 21 July 2024,” said Mbhele.

The activations and engagements are also a precursor to the reSURGEnce Conference taking place at the Inkosi Albert Luthuli International Convention Centre (Durban ICC) from July 17–21, 2024.

Mbhele highlighted some of the high impact catalytic projects under way in Durban such as the Dube Trade Port and Whetstone development which has an investment value of R54 billion and will create 214 100 jobs. Other projects include the Keystone Logistics Park in Hammarsdale, Westown in Shongweni and the Dry Port in Cato Ridge which will inject R33bn of investment in the outer west region.

The Mercury