Minister Maynier's welcome remarks at Africa Halal Week 2019

Good evening to you all, and welcome to the First National Bank Business Networking Function here at Africa Halal Week 2019.

Congratulations first and foremost to First National Bank on the launch of your Islamic Trade Finance Facility.

I had the pleasure of delivering the keynote address at the recent Global Islamic Finance Awards held in Cape Town, and I was hugely impressed by the level of innovation and professional excellence in the Islamic Finance industry on display that evening.

So, it is with great interest that I heard you were launching the Islamic Trade Finance Facility here this evening at Africa Halal Week.

Africa Halal Week positions itself as the place where business and opportunity meet, and tonight’s networking function delivers just that.

As the Western Cape Government, we are delighted to be hosting you, the Halal industry leaders, in Cape Town and the Western Cape for the second year at Africa Halal Week.

The role of Africa Halal Week is to showcase Cape Town and the Western Cape as a preferred halal trading partner and destination for Muslim travellers, and we hope that you will consider all the opportunities that Cape Town and the Western Cape have to offer.

We are not only a beautiful place to visit but also a top business destination, and an economic powerhouse on the African continent.

The Western Cape is also home to a large Muslim population.

A rich and diverse tapestry of Islamic history and culture which has earned us the reputation for being among the world’s most friendly destination for Muslim travellers.

As the provincial government, we continue to embark on innovative programmes of action as we seek to build economic growth, economic inclusion and economic resilience to ensure job creation opportunities in the Western Cape.

We lead the way in attracting foreign investment to the country.

We have:

• attracted over 299 foreign direct investment projects in the last 10 years alone, totalling US$ 7,6 billion.  
• the fastest growing green economy in Africa, with 70% of all South African renewable energy manufacturing taking place in the Western Cape.

And we are:

• a global exporter, with total exports from the Cape to the rest of Africa amounting to over US$ 3,2 billion, with the province being the 5th largest global exporter of agricultural goods in Africa.

The Halal market for products and services continues to attract significant and rising attention.

Never before has the global Islamic market presented the opportunities it does today, and as such plays an important role in our strategy to grow the economy and create jobs in the Western Cape.

The Halal trade in the Western Cape has grown significantly.

In 2018:

• Halal exports contributed almost 8 per cent of Western Cape total exports,  
• the top Halal export markets in that year were the UAE, Malaysia and Saudi Arabia, and;  
• export growth to Turkey doubled.

So, we are proud to be hosting the annual Africa Halal Week 2019.

This event is an example of our focus on export-led growth in the Halal Economy. 

There is an abundance of investment opportunities in the Islamic Finance industry and the halal economy across Africa, South Africa and the Western Cape.

With a strong and reliable finance sector, an established business process outsourcing sector, a growing tech sector and an abundance of talent, investors will find a wide range of business support in the Western Cape.

We welcome you to Cape Town and the Western Cape.

And encourage you to explore the opportunities we offer.

I wish you all many fruitful discussions tonight, and for the remainder of this event.

I thank you.

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Media Enquiries: 

Francine Higham Spokesperson for the Ministry of Finance and Economic Opportunities (Responsible for Provincial Treasury and Departments of Economic Development and Tourism) Tel: 021 483 4327 Cell: 071 087 5150 Email: francine.higham@westerncape.gov.za