KZN Economic Development MEC Zondi targets R100bn in investment pledges at conference

The billions of rand in investment pledges from the private sector will be spread throughout the province to benefit all of KwaZulu-Natal’s residents.

This is the promise made by the KZN MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Reverend Musa Zondi, when he spoke to The Mercury on the sidelines of the KwaZulu-Natal Investment Conference in Durban yesterday.

He stated that they had made changes to the structure of the pledges, allowing investors to invest lower amounts, which will enable them to invest across the province and not only concentrate in big cities.

The conference, led by the EDTEA department, is expected to attract close to R100 billion in pledges. A gala dinner where the new pledges would be made was expected yesterday evening.

This is the second investment conference under the government of provincial unity. The previous pledges had exceeded R80 billion. The provincial government stated that a bulk of the previous pledges had been actioned into projects that created employment and transformed the lives of the public.

“From last year’s pledges, 68% of the pledges have broken ground. We had given those who pledged about three years to begin implementing the projects; yet, some of those who pledged did not wait for the three years. They began implementing their projects immediately; those projects are changing lives, and people are being employed.”

“The Princess Mkabayi Mall in the Zululand district came from these pledges. There are housing developments that have been sold out, with new developments now planned, that came from the pledges made last year,” Zondi stated.

He added that while they expected about R95 billion in pledges this year, they believed the amount could climb higher.

“What we can say now is that we know the work that we have been doing behind the scenes (to attract investment). We expect that we will get about R95 billion in pledges, but we believe it will be close to R100 billion. We will know for certain after the pledges are made if anyone has gotten cold feet,” the MEC continued.

Zondi highlighted that the economic sectors they are looking for more investment in going forward include manufacturing, logistics, and mining, among others. “It’s an investment across the board in those areas. We hope that R95 billion is the minimum.”

“The main aspect of what we have done is that this year, we have expanded the scope. Last year, the pledge was for many people pledging large sums of money, but this time around we said we should reduce this and start pledging at R100 million so that we draw in as many investors as possible. This way, they could be spread throughout the province and not be confined to main areas like Durban but be spread across all 11 districts,” Zondi concluded.

KZN Premier Thami Ntuli said the province is open for business, innovation, and partnership. He also expressed expectations that the pledges would reach R100 billion.

“Together, let us build a province that not only competes globally but also delivers locally — a KwaZulu-Natal that stands as a beacon of opportunity, stability, and shared prosperity for all. The future of KwaZulu-Natal’s economy lies in high-value, export-oriented manufacturing, technology-driven agriculture, and the digital transformation of logistics, transport, and communication systems. These are the engines that will power our competitiveness and secure KwaZulu-Natal’s position as a strategic investment destination — not only for South Africa but for the entire African continent,” he said.

The premier emphasised that KZN’s competitive edge lies in its infrastructure and geographic advantage.

“Our strategic industrial zones — Dube TradePort, the Richards Bay Industrial Development Zone, and the Newcastle Industrial Park — are transforming the provincial economy. These zones offer investors world-class infrastructure, seamless logistics, and direct access to African and global markets.”

THE MERCURY