Port of Cape Town's importance to Western Cape’s economic growth breakout 

(Media Release: Issued and provided by the South African Revenue Service)

On Monday, 12 August 2024, Dr Ivan Meyer, the Western Cape Minister of Agriculture, Economic Development and Tourism, met with Transnet’s Port of Cape Town management.

At the meeting, Minister Meyer emphasised the Port of Cape Town’s (PoCT) importance as the Western Cape’s paramount export hub, underscoring its pivotal role in the province’s ambitious plans to achieve breakout economic growth to combat poverty and create jobs.

Minister Meyer said, “The Western Cape Government’s (WCG) Growth for Job strategy aims to create a R1 trillion economy by 2035. To achieve this, we must triple Western Cape exports to reach R450 billion and increase private sector investment to 20% of the province’s GDP. We must have a fully operational harbour to drive economic growth, boost exports, and attract private sector investment.”

During the visit, Port management, including Transnet Port Terminals (TPT) and Transnet National Ports Authority (TNPA), also briefed Minister Meyer on initiatives to improve operational efficiencies.

“As the Cape Town container and multi-purpose terminals, we remain committed to contributing towards the growth of the South African economy,” said TPT’s Western Cape Managing Executive, Oscar Borchards.  

"Since January, we have hit a few milestones that align with our improvement of efficiencies. Our equipment replacement plan is tracking well, with 47 new hauliers recently delivered, four reach stackers, and a leased empty container handler as additional equipment received," he said.

Read the full press release here.