Page 20 - KZN Top Business Portfolio 2024/5 - ebook
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Trade Sector
The trade services industry in KwaZulu-Natal is a diverse
and vital component of the economy, comprising key
activities such as:
Wholesale trade
Retail trade
Motor trade
Hotels and restaurants
KwaZulu-Natal stands as one of South Africa’s prime
tourist destinations, attracting both domestic and
international visitors. Its strategic position along
the east coast offers a competitive advantage in
the tourism sector, complemented by a wealth of
natural and cultural assets. These include world-class
accommodation, pristine beaches, scenic mountains,
KwaZulu-Natal is a prime tourist destination and home to the and extensive bushland.
Big Five animals
The province boasts three UNESCO World Heritage
Park, supporting both eco-tourism and light com- Sites: the iSimangaliso Wetland Park, the uKhahlamba
mercial, logistics, and warehousing businesses. The Drakensberg Park, and the Sibhudu Cave, located in
development also brings significant social benefits the south of KwaDukuza. Sibhudu Cave is particularly
to the local informal community by creating jobs and significant as it contains evidence of some of the earliest
business opportunities. human innovations, including the oldest bone and
stone arrowheads, dating back over 60,000 years.
Westown, one of the largest infrastructural investments
in Durban since the 2010 World Cup, is expected According to iLembe Chamber president Cobus
to generate R15 billion in investment over the next Oelofse, this status will add to the North Coast’s “must
decade. Westown Square and The Barn, scheduled to visit” attractions and will complement other historical
open in March 2025, will feature high-street shopping, sites such as the Luthuli Museum in Groutville and
dining, and leisure, offering substantial opportunities the KwaDukuza Museum. “World Heritage status will
for business. bring international recognition and prestige to a much
broader audience, including conservationists and
Avoca Node Development includes industrial and domestic and international tourists,” said Oelofse.
residential projects along the N2 Corridor, such as the
Brickworks and Northfields industrial developments. KwaZulu-Natal is also home to numerous private and
The launch of Takealot’s state-of-the-art distribution public game reserves where visitors can view the “Big
centre in Avoca, a 157-hectare business and logistics Five,” as well as historic battlefields, golf courses, and
park developed by Investec Property, will create a variety of cultural and heritage sites. The province’s
thousands of jobs and boost regional economic activity. favourable climate supports year-round outdoor
activities, driving business opportunities in tourism,
The construction of the Durban Film Studio is underway, hospitality, and retail.
a private sector-led project valued at over R7.5 billion.
This development, located at the Natal Command site KwaZulu-Natal’s tourism sector is bolstered by a series
on the Durban beachfront, will include high-end venues of high-profile international events, such as the Dusi
such as hotels, flats, restaurants, and a shopping centre, Canoe Race, the Comrades Marathon, the Midmar
creating thousands of jobs during both the construction Mile, and the July Handicap horse race, which attract
and operational phases. participants and spectators from across the globe.
KwaZulu-Natal is also seeing a rise in retirement villages In addition to these events, Durban’s upgraded central
around the province located on the north coat, south beachfront has become a symbol of urban renewal,
coast and the midlands. offering uninterrupted ocean views, restaurants, and
leisure facilities. The Moses Mabhida Stadium also
All these ongoing projects demonstrate KwaZulu-
Natal’s capacity for sustained economic growth and stands as an iconic feature of Durban’s skyline, further
infrastructure development, making it an attractive enhancing the city’s appeal. Of note, Durban’s coastline
is a critical asset for tourism, with over 600 kilometres of
destination for investment and a hub for business beaches along the province’s Indian Ocean frontage. As
innovation.
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