(3 minutes read)
· According to a report from fDi Intelligence, the data wing of the Financial Times group, Cape Town has been ranked one of the world’s fastest-growing regions for foreign direct investment
· South Africa is also adjudged as the first place in Africa for economic potential, start-up status and business friendliness by the same organization
· The Cape Town – Stellenbosch corridor contains 450 tech firms employing more than 40,000 people, making the ecosystem bigger than Nairobi and Lagos combined
According to a report from fDi Intelligence, the data wing of the Financial Times group, Cape Town has been ranked one of the world’s fastest-growing regions for foreign direct investment. South Africa is also adjudged as the first place in Africa for economic potential, start-up status and business friendliness by the same organization.
South Africa also recorded the second-highest number of start-ups, after Nigeria. It has attracted considerable investments in the software and IT services sector. The FT wing also assessed the countries in terms of evolving strategies for attracting FDI. Cape Town came second for FDI strategy after Cairo. Cape Town has taken initiative in creating the necessary infrastructure for a thriving tech ecosystem.
The Cape Town – Stellenbosch corridor contains 450 tech firms employing more than 40,000 people, making the ecosystem bigger than Nairobi and Lagos combined. South Africa leads many countries in terms of tech-startups, presence of venture capital firms, co-working spaces, development of talents etc, technical education hubs and importantly ease of doing business.
