A French ICT firm has earmarked nearly R50-million to fund an investment into the Western Cape that will see the creation of 36 jobs in the local economy.

Trusted Logic, which specialises in digital security solutions including mobile payments and e-ticketing, is spending R47.5 million to open a new subsidiary called Trusted Logic Africa in Cape Town.

“The ICT industry in South Africa currently accounts for roughly 3.0% of GDP and is expected to remain at those levels until 2013 when it is expected to be worth an estimated S$13.45-billion,” said Wesgro CEO Angelo Manzoni.

“The Western Cape ICT industry is highly diverse with many niche segments and role players. Cape Town offers investors a cost competitive location for ICT and quality levels similar to Europe and other leading destinations” Manzoni added.

Western Cape MEC Alan Winde, who attended the press briefing at Wesgro’s head offices, said he was encouraged by the fact that Trusted Logic viewed Cape Town as a gateway from which to market this international company to the rest of Africa and the Middle East.