eThekwini engages US investors to rebuild City

Published Jun 20, 2024


The eThekwini Municipality said City Manager Musa Mbhele will begin a series of engagements with investors and captains of industry based in the United States of America (US). The engagements are aimed at rebuilding confidence and promoting trade and investment.

The Municipality said that the investor engagements and destination promotion activities are set to get underway from 20 to 26 June 2024 in New York City and Los Angeles respectively. “Engagements with key investors form part of the City's aggressive drive to recover the economy after the Municipality suffered the triple challenge of COVID-19, July 2021 unrest, and April 2022 flood disasters.”

eThekwini added that the delegation will be led by the Chairperson of the Economic Development and Planning Committee Councillor Thembo Ntuli.

“Other senior officials who will be participating in the engagements include Head of Catalytic Projects in the City and Acting Chief Operations Officer George Mohlakoana.

“Discussions will centre around eThekwini Municipality’s value proposition, strengthening relations with US-based investors while also exploring new trade and investment opportunities,” added the City.

eThekwini said that 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 17 to 21 July 2024.

City manager Mbhele said the 2024 instalment of the Resurgence Conference is being hosted for the first time on the African continent. “The conference seeks to maximise investment opportunities. New York has a $229 billion budget and over $1 trillion in pension funds and they are looking to maximise on investment opportunities outside of their country.”

Mbhele added that the City wants to forge partnerships where our local investors also exploit opportunities in the United States of America market. “We want investors to come in through the red carpet and we don’t want red tapes. Our city remains open for business.”

The Mercury