Page 16 - KZN Top Business Portfolio eBook -2024
P. 16

OVERVIEW OF ECONOMIC SECTORS       projects, notably those that use biomass (sugar and
       The province’s lead economic sectors are personal   forestry industries).
       services, finance, manufacturing, trade, transport, and   In a move to tap into the potential of the cannabis
       government followed by agriculture, construction   and hemp industry, the KwaZulu-Natal government,
       and mining.                        under the leadership of Premier Nomusa Dube-
                                          Ncube, initiated its inaugural Cannabis Conference &
               KWAZULU-NATAL (KZN)        Expo in October 2023 to capacitate local farmers and
                                          bolster the province’s economy.
        Personal Services          21%
                                          A  significant  highlight of  the  conference was  the
              Finance            19%      issue of permits to 644 hemp and cannabis farmers
                                          registered in the database of  the KwaZulu-Natal
          Manufacturing         16%
                                          Department of Agriculture and Land Reform.
                Trade         13%
                                          COMMUNITY, SOCIAL AND PERSONAL SERVICES
              Tranport     10%            SECTOR
           Government     8%              The services sector comprises the following community,
                                          social and personal services industry activities:
                Other         13%
                                             ƒ Education
       Source STATS SA October 2023:         ƒ Health and Social Work
                                             ƒ Sewage and Refuse Disposal, Sanitation and
       AGRICULTURE SECTOR                    Similar Activities
       In 2022, KwaZulu-Natal was the largest contributor of     ƒ Activities Of Membership Organisations
       the South African provinces and accounted for 25,8%     ƒ Recreational, Cultural And Sporting Activities
       of  the  country’s  total  agriculture,  hunting,  forestry     ƒ Households
       and fishing industry, however this sector’s  direct     ƒ Non-Profit Institutions
       contribution to the province’s GDP is small.    ƒ Informal
       Although the province covers a small portion of   Spotlight on Investment in Education
       South Africa’s land area, a significant percentage of   Currently education provision in the provision is very
       the country’s small-scale farmers are based here.  unequal. However, education has a pivotal role to play
       The agricultural sector is a catalyst in creating   in the economy both in terms of its provision and in
       downstream business and employment opportunities   the upliftment of its people.
       within several manufacturing sectors such as food,
       beverages and wood and paper industries that are   South Africa’s maritime sector generates billions of
       very important for the provincial economy through   Rands in earnings each year, promoting economic
       employment and export activities.  growth  and  the  creation  of  jobs  in  the  country.
                                          Consequently, the construction of the Maritime
       The midlands area between Pietermaritzburg and the   School of Excellence in 41 Somtseu Road, in eThekwini
       Drakensberg has a concentration of vegetable, dairy   Municipality, close to the largest port in Africa is a big
       and stock-farms.                   step forward.
       The coastal belt yields bananas, mangoes, pineapples   The flagship project, which is due for completion
       and other tropical fruit. The KwaZulu-Natal coastal   in March 2024, is funded by the KwaZulu-Natal
       regions  are also  fast  establishing  themselves  as  the   Department of Education and implemented by the
       best in the world to grow macadamia trees with much   Development Bank of Southern Africa. The architecture
       potential for growth in the macadamia nut industry.  is the work of GIARC Designs (Pty) Ltd, and construction
       Forestry in the areas around Vryheid, Eshowe,   is being carried out by GVK-Siya Zama. The project has
       Richmond, Harding and Ngome is another major   maximised local employment and procurement, and
       source of income, the largest forest owners being   will therefore not only benefit future learners, but is
       Sappi and Mondi.                   creating employment for local labour and contractors.
       The KwaZulu-Natal sugar industry is an important   Ryan Schneeberger, Production Director at GVK-
       contributor to the economy, which is characterised by   Siya Zama in KZN, says, “The opportunity to build
       high employment and linkages with major suppliers,   an educational building in South Africa is always
       support industries and customers.   inspiring, given the desperate need to uplift our youth
                                          and indirectly assist in the long-term reduction of
       Agriculture also offers potential for renewable energy   youth unemployment. This particular project has the

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