Port Shepstone Techno Hub Brings Significant Investment Potential to the KZN South Coast
The 20-hectare gated location for the techno hub consists of five land-use zones, including light industrial/commercial, techno hub/hotel/conference centre, mixed-use commercial, and mixed-use residential.
“Given what we know today about the potential beneficial impacts of the Fourth Industrial Revolution, we must embrace this historic confluence of human insights and engagement, artificial intelligence and technology, to rise to the challenges of poverty, unemployment and inequality.” – President Cyril Ramaphosa
As part of the government’s drive to shift South Africa to a nation of early adopters in terms of technology, the KZN South Coast has been chosen as one of four provincial sites for the establishment of a technological hub – a development investment for the fourth industrial revolution (4IR). The Port Shepstone Techno Hub will not only help achieve this goal, it promises unlimited opportunities for keen investors.
Run by the provincial government in partnership with Ray Nkonyeni Local Municipality, the Port Shepstone Techno Hub is the first of four such hubs which are set to stimulate the region’s economy by providing a collaborative space for investors and entrepreneurs. This will also form part of the Eastern Seaboard Development Initiative which aims to unlock the economic potential of the region within the Eastern Cape and KZN – with the KZN South Coast falling within this framework.
“We are proud that the KZN South Coast has been chosen as one of the key locations for the development of a techno hub, a development investment that will undoubtedly benefit the youth,” commented Phelisa Mangcu, CEO of South Coast Tourism & Investment Enterprise (SCTIE). “The location of Port Shepstone is particularly well chosen. As the business and administration hub of the KZN South Coast, there is now even more reason for individuals and organisations to consider setting up shop here. There are great things in store for this region!”
The 20-hectare gated location for the techno hub consists of five land-use zones, including light industrial/commercial, techno hub/hotel/conference centre, mixed-use commercial, and mixed-use residential. The project is currently in Phase 1 which includes the completion of the fencing and an administrative building including three training rooms and a board room. The site has already received much investor interest with land plots being the attention of investors such as the Radisson Hotel Group – the American multi-national hospitality company – already committing to the hub.
Ray Nkonyeni Local Municipality is sharing some key areas of investment opportunity found here including:
- Business innovation programmes
- Film and media innovations
- Leisure and entertainment facilities
- Information, communication, and technology
- Tourism and the ocean economy
- Energy innovation
- Water technology
In addition to the massive investment potential, the Port Shepstone Techno Hub will provide valuable insight that will be used to benefit other sectors on the KZN South Coast, among them manufacturing, renewable energy, logistics, and the agri-business industry. There is also value add in terms of attracting a younger workforce looking to explore, practice, and test innovative ideas that could benefit the region and country.
“This is not solely about job creation, but about creating a productive space for entrepreneurial thinkers to get together and collaborate on ground-breaking ideas and projects,” continued Mangcu. “The Port Shepstone Techno Hub really has the potential to drive socio-economic development, increase competitiveness, and grow the area in line with the fourth industrial revolution.”
SCTIE has partnered with Trade and Investment KwaZulu-Natal (TIKZN) to establish a One Stop Shop office on the KZN South Coast. This aims to improve the efficiency of doing business, ensuring investors have access to municipal incentives in the district, such as those being offered through the Ray Nkonyeni Local Municipality (RNM).