South Africa : Cape Town recognised as Africa’s top city for opportunities

Cape Town has been dubbed the African City of Opportunity, according to a recent research report. Photo : GAN

Casablanca, Morocco (ADV) – The City of Cape Town on Thursday welcomed the decision by the World Bank to rank it as the top opportunity metropolis in Africa.

“It is a confirmation of the city’s commitment to provide better services to residents and create an enabling environment for businesses to flourish, while creating fair access to jobs,” said Cape Town’s Mayor-elect Dan Plato.

In its “Doing Business in South Africa” report released earlier this week, the bank said that when it comes to the ease of doing business, Cape Town is the number one metropolitan municipality in Africa.

The World Bank assessed metros in 190 economies, including South Africa’s nine metropolitan municipalities. Cape Town came out on top of the eight South African metros assessed in two of the World Bank’s four indicators.

Cape Town is South Africa’s legislative capital with a population of about four million.

The city ranks first as the city in dealing with construction permits. New businesses take 88 days to obtain all the necessary licences and permits, completing required notifications and inspections, nearly half to Johannesburg’s 155-day period.

Among other key indicators that were top priorities for investors were reliable infrastructure which costs the city six billion rand (about 416 million U.S. dollars) annually, fast internet and energy security. The city has set a goal of sourcing up to 20 percent of Cape Town’s energy supply from renewable energy by 2020.

© Bur-csa – N.A – African Daily Voice (ADV)