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Administration
SPVs and Wesgro annual report
Agenda #2August 20, 2026
Summary
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The consolidated annual progress report for the Special Purpose Vehicles (SPVs) and Wesgro for the period 1 July 2025 to 30 June 2026 will be presented for information.
Special Purpose Vehicles (SPVs) are industry-development organisations that the City of Cape Town funds to promote investment, skills development and job creation in priority sectors. They were set up to pursue the investment facilitation, industry development, job creation and economic growth objectives of the Province and the City. Wesgro is a separate body. It is the Western Cape's destination marketing, investment and trade promotion agency. The City currently supports ten SPVs across key high-growth industries. Examples include CiTi, GreenCape, CapeBPO and the Cape Craft and Design Institute. The annual progress report is presented for information, so councillors are not asked to take a decision on it.
The reporting measures the SPVs and Wesgro against investment and job-creation targets. For the previous period, the SPVs and Wesgro together facilitated R4,6 billion in investments that directly created 10 214 jobs between July 2024 and June 2025. The Mayoral Committee Member for Economic Growth, Alderman James Vos, said that report showed the contribution of these industry partners and the City.
The report matters because it shows what ratepayers' money delivers. By 2021/22, the City had invested over R330 million in Wesgro and the SPVs since 2012. The report is therefore a main accountability check on how well this long-running funding model works.
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