Coega Development Corporation (CDC) in the Eastern Cape will extend its market offering beyond South African borders into Zimbabwe, Cameroon, the Central African Republic and the Republic of Congo.
Under the Coega Africa Programme (CAP), CDC will align itself with the South African president’s call to promote the development and economic integration of the continent.
Dr Ayanda Vilakazi, CDC marketing, brand and communication head, said: “Through its African Trade and Investment Solutions Strategy, the CDC is champion the country’s enterprise for business between South Africa and the rest of the continent.”
The CDC provides consulting services to develop the Norton (Lentsloane) and Eco-soft Special Economic Zones, privately owned by TD Holdings, in Harare, Zimbabwe.
“TD Holdings has an interest in other businesses, which include, amongst others, Energy, Capital, Lunar Global Foods, Sunlands Eco-Estate, and Redwing Agro-City.
“The Sod Turning for the SEZs is planned for November 2020. The focus is on advisory services for the Water Treatment Plant (WTP) in Harare, with an estimated investment value in excess of $15 million; SEZ and Dry Port (DP) in Norton – Harare, with an estimated investment value of $336 million (SEZ & DP),” the CDC said in a statement.
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The programme also obtained a 20-year concession of logistics bases in Douala in the Central African Republic for the development of a Dry Port for the storage of goods. The project will commence in April 2021, with an estimated investment value of$30 million.
The CDC is awaiting confirmation of projects in Cameroon and the DRC.
“These developments are positive for South Africa and CDC in particular, given the recent establishment of the African Continental Free Trade Area (AfCFTA),” the CDC said.
Vilakazi said the CDC is responding to the continental strategy that was set out by the African Union (AU) Agenda 2063 and the New Partnership for Africa’s Development.
“The CDC is able to effectively extend its products and services to the rest of the continent due to its 21-year expertise in project managing mega infrastructure projects, especially at the Coega SEZ, as well as on behalf of government clients throughout South Africa.
“The CDC’s well-resourced Project Management division boasts highly skilled and competent professionals, who specialise in the Built Environment, including cost engineering,” said Vilakazi.
In addition, the CDC has a proven track record in infrastructure development and project management, and it has delivered projects successfully within budget, scope and timeframes.
African Continental Free Trade Area
The CDC has congratulated Trade, Industry and Competition Minister, Ebrahim Patel, for his election as chair of the African Ministers of Trade (AMOT). This particular ministerial body is tasked with finalising negotiations of the terms of preferential trade under the African Continental Free Trade Area (AfCFTA).
The CDC said it supports the Minister’s views on prioritising the finalisation of the outstanding work and negotiations required to enable the start of trading under AfCFTA from the beginning of 2021.
“The trade deal could eventually include over 50 African countries and their 1.3 billion citizens, making it potentially the largest free trade area in the world. The countries potentially involved in the bloc currently have a combined gross domestic product of $3.4 trillion,” the CDC said.
Vilakazi said the CDC is ready to take advantage of these opportunities on the continent.