Agribusiness Investment Unit boosts industry

Toasting the new initative (from left to right): Joyene Isaacs, Head of Agriculture Department, Minister Alan Winde, Minister Gerrit van Rensburg and Rameez Johar form WESGRO

Wesgro, the Western Cape’s official Trade and Investment Promotion Agency in collaboration with the Department of Agriculture launched an exciting investment initiative on the 1^st September 2009, referred to as the Agribusiness Investment Unit. Issued with the mandate of attracting domestic and foreign direct Investment into the Western Cape agricultural sector, the unit will renew interest in this dynamic industry.

The fledgling division will fall under the wing of both Wesgro and the Department of Agriculture (the unit’s primary sponsor) as these two major players in the agri-world align their vision to develop and promote this burgeoning sector.

The unit will be responsible for locating new direct investments in the Western Cape as well as retaining existing investments and supporting their expansions. It will target and identify potential investors through proposition-based marketing in order to attract them to the Western Cape through a comprehensive programme. One of the advantages of this unit is that is able to create a more conducive external environment while also being able to service investors’ individual needs.

Agriculture is one of the major sectors of the province and close to 40% of the exports of the Western Cape is based on agricultural products. The industry is identified as the mainstay of the economy in the rural areas of the Western Cape and attracting investment into this area will have positive spin offs for other sectors in the Western Cape.

The Agribusiness Investment Unit’s function will compliment Wesgro’s vision to promote the Western Cape as the leading business destination for local and international investment.

Minister of Finance, Economic Development and Tourism, MEC Alan Winde, expressed his delight at the coming together of the two provincial departments: “This is ground-breaking initiative that will certainly facilitate economic growth in our Province. I am very pleased to be working with MEC van Rensburg on this project, as our combined budgets will facilitate a far better service to potential investors”.