The Coega Development Corporation (CDC) has achieved 13% revenue growth despite the challenging economic times.
This is on the back of a sixth consecutive clean audit announced at its annual general meeting last week.
Board chair Luvuyo Bono said this was due to the corporation’s robust accountability mechanisms.
“Our resilience reflects prudent governance and accountability mechanisms that have resulted in an unbroken record of clean audits,” he said.
The Coega special economic zone continues to make a significant impact, contributing 1.01% to the Eastern Cape’s gross geographic product (GGP) and attracting 67 operational investors with a cumulative investment of R12.4bn.
It has also created more than 11,000 operational jobs, prioritising localisation, black industrialists, youth and women-owned businesses.
Looking ahead, chief executive Themba Koza said Coega planned to accelerate its investment pipeline, positioning itself as a continental leader in industrial and economic development while deepening transformation through inclusive procurement and skills development.
“New investor commitments are emerging, and catalytic projects like the Coega 100MW Solar Farm demonstrate our commitment to industrial diversification,” he said.
The Herald
