Cape Chamber launches initiative to strengthen the Western Cape economy

In a bid to grow the economy in the Western Cape, the Cape Chamber of Commerce and Industry has mobilised business in the province, creating a network of networks and bringing together industry associations to take the voice of business forward.

The Cape Chamber has mobilised industry to work better with national, provincial and local government systematically around structured themes, to consistently improve the economy and to reduce key impediments in the business environment.

"It is time we stand up and fix what is wrong with this economy which fails to realise the growth and employment on the scale required. If we do not, decline will accelerate.” said Cape Chamber CEO, John Lawson.

"It is not rocket science, just basic good practice. This requires standing up to poor leadership in the public sector.” he said.

Lawson added that in order to create system and structural changes in the economy, it was necessary to mobilise and scale up public-private cooperation to unlock opportunities for economic growth in the province.

In August, the Cape Chamber released its Business Environment Survey to compile a detailed database of economic impediments, frustrations and areas for improvement put forward by the business community.

Close to 250 organisations from various sectors ranging across construction, manufacturing, agriculture, real estate as well as non-profits have responded to the 102-question survey, which had been structured according to the Global Competitiveness Index (GCI) framework pillars.

“After a decade of economic decline pre-Covid, it is evident that the created business environment has stunted private sector investment and growth. To perform better, we need to become more competitive in the areas that will cause our economy to grow,” said Lawson.

"Without effective public-private dialogue channels many opportunities for economic growth are lost. These impacts different stakeholders in different ways,” he added.

Furthermore, Lawson said that the vision is to grow the economy of the Western Cape sustainably by mobilising and strengthening sector and precinct development capacity across networks.

Based on the GCI pillars, the respondents highlighted transport, energy and crime prevention as some of the key areas in need of urgent improvement. Other areas include the labour market, taxes, spatial development and land use as well as public investment.

“The dialogue process for cooperation involves businesses in various sectors and precincts, identifying pragmatic opportunities for economic growth. Smarter dialogue processes aim to unlock more private sector investment through cooperation with the public sector,” said Lawson.

“If public sector investment leverages more private sector investment, this will contribute to faster growth and lead to more jobs being created,” he added.

This week, the first of many smaller dialogues got underway ahead of the four-day public-private dialogues starting on Monday, December 5. The Cape Chamber is encouraging the business community to become more pro-active and join the Chamber to help create this better future we all seek.