By Nangamso Mabindla
3 March 2005

AFRICAN leaders will be in Buffalo City from 25 May 2005 when East London hosts a three-day trade and investment conference under the New Partnership for Africa's Development, or Nepad.

The conference will focus on ways to attract foreign direct investment to Africa; implementing policies conducive to economic growth; improving the quality of trade-related technical assistance; and capacity building on the continent, among other economic issues.

High-profile members of the business community and international policy makers from government are expected to participate in the conference, which is being held at the Regent Hotel.

Talking about the benefits of the conference for the city, Mxolisi Tsika, the chief executive officer, said it would open the region to the investment world. "We would like to call on all role players to join hands and come up with innovative ideas that will enhance our image as a worthy investment destination."

Tsika said the city had strategies in place to attract investment. These included the East London Industrial Development Zone, the Beachfront/Quigney Redevelopment; the renewal of the central business district; the 20 percent tax incentives; and the upgrading of the rail link to Johannesburg and what it entails for the automotive industry.

"The cherry on top is the 2010 World Strategy. We will, in all probability, host one of the [Soccer World Cup] teams and claim our share of the billions of rands which will pour into the country," Tsika said.

The city needed to make a lasting impression on the delegates expected to attend the conference. A cocktail party at the East London City Hall was also planned for the visitors.