By Nangamso Mabindla
13 June 2005

THE EASTERN Cape anticipates the announcement of new investors in the region's industrial development zones (IDZs), which will boost the province's economy and help create much-needed jobs.

Business, religious and political leaders were told at a breakfast at the East London City Hall on 9 June that the two IDZs - in East London, in the Buffalo City metro; and Coega, in the Nelson Mandela metro - were on the verge of announcing new investors.

Coega chief executive Pepi Silinga said the IDZ was negotiating with 75 prospective investors. "We are hoping to secure at least 5 percent of those investors ... We are going to make this IDZ a reality for the people of the Eastern Cape."

However, Silinga refused to be drawn on details, saying he expected to make an announcement within the next few weeks.

Last month the Coega IDZ secured a R200-million investment from a Belgian textile company. That investment, a first for Coega, will eventually create 1 200 jobs.

Not to be outdone, Simphiwe Kondlo, the chief executive of the East London IDZ, said the development zone was ready to accept investors. At present, it was developing its infrastructure.

Once the IDZ was complete it would create 34 000 jobs. "We are aiming to make South Africa more competitive globally. We want to be a major export industry and improve business capability."