KZN secures R124.5bn in investment pledges

KwaZulu-Natal has secured R124.5 billion in investment commitments, exceeding its R95 billion target by R29.5 billion, with the projects expected to create more than 330 000 jobs.

Provincial Premier Thamsanqa Ntuli announced the achievement during his keynote address at the 2026 KwaZulu-Natal Investment Conference, held at the Albert Luthuli International Convention Centre in Durban on 15 and 16 October.

The conference brought together national and provincial government leaders, investors, business executives and other stakeholders to explore investment opportunities and strengthen partnerships aimed at growing the provincial economy.

Ntuli said the investment pledges demonstrated confidence in KwaZulu-Natal’s economic potential but stressed that the priority is to translate commitments into projects, economic activity and sustainable employment.

“The challenge is now to ensure that commitments are translated into projects on the ground, economic activity and sustainable employment,” the Premier said.

The latest commitments build on the province’s investment drive launched in 2024, when 17 companies pledged R85.2 billion at the inaugural conference.

According to Ntuli, more than 80% of those projects has since broken ground, creating over 68 000 permanent jobs and 119 000 temporary jobs.

The Provincial Government has also established an Investment Office within the Office of the Premier to reduce red tape, resolve implementation delays and support investors in moving projects from initial commitments to production.

Taking investment beyond Durban

Ntuli acknowledged that economic growth remains concentrated in too few areas, stressing the need for investment to reach towns and rural communities throughout KwaZulu-Natal.

He highlighted the province’s Secondary Cities Programme, a 30-year development programme running from 2026 to 2056 and focusing on Pietermaritzburg, Newcastle, Richards Bay, Ladysmith, Port Shepstone, Kokstad, Eshowe, Vryheid and Pongola.

The Provincial Government will also facilitate District Investment Conferences across KwaZulu-Natal, providing districts with opportunities to showcase projects, available land, infrastructure and investment opportunities directly to investors.

“Investment must no longer travel only along the N3. It must travel down every district road in this province,” said Ntuli.

He acknowledged that the province is operating within an increasingly uncertain global environment in which geopolitical tensions, fuel prices, inflation and slowing economic growth are directly affecting businesses and households.

Despite these challenges, the Premier said the province remains open to investment and committed to working with the private sector to address infrastructure constraints and accelerate project implementation.

The Provincial Government said it will also strengthen coordination with investors to ensure the latest commitments translate into measurable economic growth and employment opportunities for the people of KwaZulu-Natal. – SAnews.gov.za
 

0