THE Coega Development Corporation, in partnership with Stats SA, has published the 5th annual Coega Special Economic Zone (SEZ) Census Report Publication 2023/24. The survey findings show that the Coega Special Economic Zone (SEZ) continues to demonstrate strong economic growth, with total income surging to R25 billion in 2024, reflecting a significant 32.2% increase from the R18.9 billion recorded in 2023. The latest survey conducted by Stats SA highlights the SEZ’s continued role in driving investment, employment, and industrial development in the region.
Harry Thema, Stats SA chief director for economic sub systems, emphasised the importance of data-driven decision-making, reaffirming Stats SA’s commitment to providing accurate and comprehensive economic measurements.
Employment growth
The Stats SA Census Report illustrates that employment in the SEZ has shown growth, with the total workforce increasing by 14,7% to 9,842 in 2024. The number of employees directly employed by enterprises, excluding labour brokers, grew by 8,5% to 6,594. Manufacturing remained the dominant employer, accounting for 59,4% of jobs. Encouragingly, the proportion of youth (aged 34 years and younger) in the workforce increased to 45,0% (from 42,7%), highlighting the SEZ’s contribution to youth employment.
The number of enterprises operating in the Coega SEZ grew from 43 in 2023 to 46 in 2024, with the majority being non-manufacturing enterprises, which accounted for 63,0% of the total. Although manufacturing enterprises constituted 37,0% of the total number of tenants and income increased by 26,8%, their contribution to total income declined slightly from 73,2% in 2023 to 70,2% in 2024.
Increased capital investment
Capital investment in Coega SEZ remains strong, with capital expenditure on new assets reaching R935 mil-lion in 2024, a 67,6% increase from R558 million in 2023. The bulk of this investment was directed to-wards plant, machinery, and equipment, which accounted for 47,7% of the total capital expenditure, followed by capital work in progress at 34,3%.
Coega said it welcomes these findings, noting that the insights provided by the survey are critical for future planning and investment strategies. Dr. Mpumi Mabula, Coega executive manager: infrastructure planning and development, reflected on the progress made since the inception of the Coega SEZ in 1999. He said, “As we stand here today, we reflect on how far we have come since starting this SEZ. We are proud to consistently realise our vision as a driver of socio-economic development.”
The Coega SEZ continues to play a vital role in South Africa’s industrial landscape, attracting investment, fostering job creation, and contributing to economic development. These latest figures underscore the zone’s growing impact and its importance in supporting the country’s economic ambitions.
The report is available online.
