The eThekwini Metropolitan Municipality says it has plans to halve the unemployment rate in the next five years, promising around 67 500 jobs in various sectors.

Speaking at the State of the City Address this week, the eThekwini mayor, Mxolisi Kaunda, said if the city was successful in attracting R30b in investment, it would be able to provide thousands of jobs in different sectors.

According to Kaunda these sectors will contribute to employment: manufacturing and recycling (9 055 jobs), agriculture (8 072 jobs), trade (5 009 jobs), building and construction (4110 jobs), accommodation (2 795 jobs), business services (2 254 jobs), beverages and tobacco products (2 174 jobs), and publishing and printing (2 136 jobs).

“Our economy is linked to international economic trends because we are a port city. The International Monetary Fund (IMF) has warned that major economies, which comprise a third of the global economy, are expected to contract significantly this year.

“Unfortunately, this includes markets we export to, countries we trade with that bring foreign direct investment to the city, and international tourists.”

Kaunda said the global economy seemed to be sluggish this year, having declined according to the IMF from six percent in 2021 to 3,2% in 2022, to an expected 2,9% in 2023.

He said this was due to price hikes, rising inflation, a decline in real wages, oil sanctions against Russia, and increased interest rates as monetary policymakers across the globe try to curb inflation.

“For us as a city, we view the plans by Transnet to expand the Port of Durban as a vote of confidence in eThekwini.

“The R130.7b investment will contribute an average of 1,8% per year to the city’s GDP over 17 years, starting this year.”

Kaunda said the work on the film studio component of the Durban Film City will start this year, and it is forecast to be operational within a year of the work having kicked off.

“The Durban Film City is a R7.5b mixed-use development comprising a film studio, film school, square, markets, hotel, retail, and Disney walk.

Also, this year, the Bayhead and Langeberg roads upgrade and automotive terminal expansion were expected to begin, with an estimated investment value of R647m.

“Discussions are under way with various stakeholders to finalise the construction of a second access road to the port.

“This is critical for clearing congestion from the Port of Durban and to the CBD,” adds Kaunda.

The mayor said that as part of the city’s strategy to stimulate economic growth in rural and township communities, the municipality had identified a site in Umgababa to develop a town centre.

“The city is currently facilitating this R500m development in conjunction with the landowner and developers.

“In Mtshebheni, a R250m Spar supermarket has been completed.

“Currently, construction work on the R97m development of Ikhwani Junction shopping centre and a petrol filling station is under way and expected to open in August.”

He also added that construction of the KwaNozaza Mall development in Ntuzuma will start in August this year at an estimated cost of R300m.

According to Kaunda, this project will create 500 jobs during the construction phase and 250 permanent job opportunities.