General Electric

One of our core functions is to facilitate investment into the Western Cape and recently
Wesgro assisted General Electric with a R92m expansion investment. This investment will see 120 direct jobs created in the ICT sector, manufacturing electrical equipment in Maitland.

GE is a diversified technology, media and financial services company. With six global businesses operating in more than 100 countries, 316,000 employees worldwide, GE is dedicated to turning innovative ideas into leading products and services that help solve some of the world’s toughest problems: from jet engines to power generation, from consumer finance to plastics, from medical imaging to news and information, from security technology to consumer products. GE Security currently employs around 250 people in its manufacturing facility in Cape Town. The planned investment would entail both the creation of new jobs and a considerable capital investment.

Angelo Manzoni, Wesgro CEO commented: “We would like to thank GE for the confidence that they have shown in the Western Cape’s economy which we are certain will yield positive returns for them. At a time when other enterprises are consolidating their operations our investors are preparing for growth in demand, when the economy recovers. Wesgro’s dedicated aftercare team will continue to work with GE to contribute to their future successes.”

Trusted Logic

Wesgro not only facilitates direct investment but we also assist with aftercare services. This helps foster follow-on investment and enhances the development impact of the investment.

On Wednesday, 12 August Wesgro celebrated yet another successful ICT investment into the Western Cape, facilitated by our expert investment team. Trusted Logic, a French-based security solutions firm recently committed to opening a subsidiary called Trusted Logic Africa in Cape Town and Wesgro were the key players in coordinating this exciting venture. Trusted Logic specialises in security solutions for digital services which range from mobile payment to e-ticketing, enabling end-users to safely access services anywhere at anytime. A leading provider of open, secure software for smart cards, terminals and consumer devices, Trusted Logic creates the foundations for converging digital services at the crossroads of telecom, banking, transport and government.

MEC for Economic Development and Tourism Alan Winde, joined Trusted Logic Business Manager David Kaplen at the Wesgro offices for the traditional “bell ringing” ceremony. During the ceremony Wesgro CEO, Angelo Manzoni noted the important contribution the ICT sector had made to the local GDP, totaling an estimated 3.0%. “A number of factors drove spending on IT in 2008, despite the global economic slowdown.

The 2010 World Cup has had an impact not only in terms of investments in IT systems directly linked to the event, but those driven by associated investments in areas such as infrastructure. The CTIA, Gautrain rapid rail link and La Mercy International airport are examples of ambitious transport projects that involve considerable IT layout” explained Manzoni. Minister Winde was encouraged by the fact that Mr Kaplen viewed Cape Town as a gateway from which to market his international company to the rest of Africa and the Middle East. He said that government would do its part to grow the workforce necessary for such investments by providing opportunities for youths to skill themselves.

The investment valued at R47.5 million is set to create an estimated 36 jobs over the next five years. This innovative security company is just one of the many lucrative businesses Wesgro has already attracted to the Mother City. MEC Winde thanked Wesgro for the role that they played in securing the investment, and congratulated them on their achievement.

Judith Coetzee
+27 21 487 8660
judith@wesgro.co.za

Rameez Johaar
Head of Investment Promotion, Wesgro
073 342 1098
rameez@wesgro.co.za