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HomeCompany NewsNorth West bolsters investment & trade alongside BRICS Summit

North West bolsters investment & trade alongside BRICS Summit

The North West Provincial Government hosted the North West Province Investment Forum in Sandton, Johannesburg, as an investment promotion initiative on the sidelines of the 15th BRICS Summit. This served as a platform to promote trade and investment opportunities within the North West Province to BRICS nations and the developing world.

The 15th BRICS Summit was hosted by South Africa from 22 – 24 August 2023. The Summit, with South Africa as the Chair, was hosted at the Sandton Convention Centre in Johannesburg, Gauteng.

BRICS Leaders engaged with each other, and also with business during the BRICS Business Forum and engaged with the New Development Bank, BRICS Business Council and other mechanisms during the Summit.

While the BRICS Summit is a meeting of heads of state and government and is not open to the public, an extensive business programme was arranged around the Summit.

The North West Province secured exposure to both its trade and investment offerings by participating in The BRICS Trade Fair held at the Gallagher Convention Centre from 19 to 23 August 2023 and the North West Investment Forum held in Sandton on the evening of 22 August 2023.

BRICS Trade Fair

The NWDC was the coordinating agency for the North West Pavillion, in which proudly North West companies were showcased, alongside DEDECT, the North West Department of Agriculture and the provincial agencies of North West Housing Corporation, North West Parks and Tourism Board and the Bojanala SEZ.

The fair was officially opened by Minister of Trade, Industry and Competition, Mr Ebrahim Patel together with his BRIC counterparts.

The exhibition served as a platform for showcasing products and services from the BRICS countries and business-to-business interaction aimed at increasing intra-BRICS trade and investment.

A total of forty SMME companies were selected from all provinces through the dtic and SEDA to exhibit, with the North West having as many as six in attendance. Proudly North West companies received valuable international exposure of their products and services.

North West Investment Forum

The North West Provincial Government hosted the North West Province Investment Forum in Sandton, Johannesburg, as an investment promotion initiative on the sidelines of the 15th BRICS Summit. This served as a platform to promote trade and investment opportunities within the North West Province to BRICS nations and the developing world.

The forum promoted economic collaboration and attraction of foreign investment to the Province by promoting current high-value projects and investment opportunities including the Bojanala Special Economic Zone, which has already attracted fourteen projects with an investment pipeline of R13,514 billion, Bakubung Smart City Mixed Use Project, Matlosana N12 Development, Renewable Energy projects, Tourism & Hospitality, Air Infrastructure, Agriculture and various beneficiations initiatives, among others.

Nono Maloyi, Acting Premier of North West.

“The North West Province is endowed with mineral resources and form part and parcel of the richest platinum belt which accounts for seventy percent (70%) of the total reserves in the world. In addition to this the province currently has over three thousand active mines with investment opportunities ranging from exploration, processing in the form of smelters and refineries as well as provision of mining equipment among others” Acting Premier Maloyi said.

Agriculture and Tourism are also the largest economic drivers in the province. The North West is currently the top producer of beetroot, the second biggest producer of sunflower and carrots and a major contributor to the exports of maize in the country.

Investment opportunities in the Tourism sector include, resort development at Lindleyspoort Dam, hotel and conferencing facilities at Bloemhof Dam Reserve as well as the Sun City Theme Park.

Acting Premier Maloyi insists that these initiatives are aimed at repositioning the province as a preferred choice for investments.

“We are hard at work to reposition our province as an ideal destination for investments. Last year we saw mining companies like Sedibelo Platinum Mine investing over nine billion rand at their operations in Moses Kotane Local Municipality. But we want to diversify our economy particularly within the agriculture and tourism sectors. We are currently in talks with various business entities to revamp our two airports. Our province is a gateway to the SADC region and the revitalisation of these two airports will assist a great deal in the movement of goods across various countries in the region and the continent while creating socio-economic for our people.”

– Nono Maloyi, Acting Premier of the North West Province

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For more information or a discussion about setting up or expanding business operations in the North West Province, contact North West Development Corporation (NWDC):

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