KZN prepares to host WEF Africa in May

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Mar 29, 2017 Comments Off on KZN prepares to host WEF Africa in May sajapanadmin

The gathering will convene regional and global leaders from business, government and civil society to explore solutions to create economic opportunities for all on the continent.
The City of eThekwini will from 3 to 5 May host the African leg of the World Economic Forum (WEF) with the KwaZulu-Natal province standing to benefit to the value of R155 million and 512 jobs expected to be sustained or created from the event.
Sihle Zikalala, KwaZulu-Natal’s Economic Development, Tourism and Environmental Affairs MEC, said recently that the province had lobbied to host the event to enhance the brand equity of both the city and the province.
“The attraction of foreign direct investment is a viable strategy for growing the economy and for solving such challenges as unemployment, the acquisition of skills and technology transfer,” Zikalala said.
WEF Africa will come four months after the conclusion of the 47th WEF annual meeting, held in Davos in January 2017, where world leaders and business leaders gathered to address problems facing the global community.
Zikalala said hosting WEF Africa formed part of the province’s Meetings, Incentives, Conventions and Exhibitions (Mice) Strategy.
The Mice Strategy was expected to generate the province R1,1 billion in direct investment, which it expects it to translate into R2,2 billion in macro-economic impact over three years. – Source: www.iol.co.za