THE Matjhabeng Investment Summit has set in motion an ambitious investment drive aimed at securing R100 billion to revive economic activity in one of the Free State’s most distressed municipalities.
The two-day summit, held in Welkom last Thursday and Friday, brought together senior government officials, business leaders and investors as part of a strategy to reposition Matjhabeng as a regional energy and industrial hub.
The summit focused on reversing years of economic decline following widespread mine closures that crippled the Goldfields region.
Once the heartbeat of South Africa’s gold mining industry, Matjhabeng has faced prolonged unemployment, poverty and disinvestment.
Executive Mayor Thanduxolo Khalipa said the municipality’s Local Economic Development strategy – aligned with the National Development Plan – forms the basis of efforts to re-establish Matjhabeng as a centre for renewable energy, infrastructure development and industrial growth.
“Our target for this summit is to secure R100 billion in investments, building on the success of a previous summit that garnered R55 billion in pledges,” Khalipa told delegates.
“Pledges alone are insufficient, action is critical. We want tangible outcomes that translate into job opportunities for our people.”
Khalipa emphasised that ethical governance would be central to the municipality’s economic turnaround strategy, saying only credible investors and service providers would be engaged going forward.
Delegates were told that Matjhabeng had already secured a R5.5 billion energy-sector investment from American partners ahead of the summit – a signal, Khalipa said, that investor confidence was returning.
Free State Premier MaQueen Letshoha-Mathae endorsed the summit’s outcomes and pledged provincial support for Matjhabeng’s renewal strategy.
“If we can get the basics right, I can assure you, investors will not hesitate to come flocking in Matjhabeng,” she said.
The Premier also stressed that contractors with government tenders and projects have a social responsibility to plough back into the communities and create opportunities locally.
She also confirmed that the province was working to release land for student housing projects, which are expected to stimulate both the construction and services sectors.
“To further support economic development, the government plans to provide land to the municipality for building student accommodation, creating job opportunities and stimulating local economic activity,” the Premier said.
Letsoha-Mathae further urged contractors benefiting from public projects to reinvest in surrounding communities, saying economic renewal must be rooted in local development.
While final investment commitments will be consolidated in the coming months, the municipality said the summit marked a turning point in repositioning Matjhabeng as a magnet for strategic investment. – Staff Reporter