Ajiv Maharaj on what makes Durban attractive to investors

Durban, a bustling port city located on the eastern coast of South Africa, is quickly emerging as a prime investment destination in the country. The eThekwini municipality recently launched Invest Durban, a strategic initiative aimed at attracting businesses and investors to the region. In a recent interview with CNBC Africa, Aviv Maharaj, head of policy for strategy and innovation at the City of Durban, shed light on what sets Durban apart from its peers as an investment hub. Maharaj highlighted Durban's strategic location as Africa's premier port, boasting the title of the busiest and most connected port on the continent. This makes Durban a low-cost destination for industries looking to export goods and services globally. Additionally, Durban features a well-developed manufacturing sector that is globally competitive, further enhancing its appeal to investors. The city is focused on strengthening these key areas through its investment promotion agency, offering attractive incentives to new investors to make doing business in Durban even more appealing. In a competitive landscape where cities across Africa are vying for investment, Durban stands out with its proactive approach to improving its competitiveness. By benchmarking itself against other cities and implementing business-friendly reforms, Durban has created an environment that is conducive to business growth and development. One of the key strategies employed by Durban is the development of an investment incentive policy, providing substantial benefits to new investors seeking to establish a presence in the city. The city is targeting foreign direct investment across five key sectors where it possesses particular strengths. These sectors include the automotive and allied industries, logistics, information and communication technology, agri-business, and life sciences. Durban's automotive sector is set to attract suppliers and OEMs, while its well-established logistics sector positions the city as an ideal location for logistics companies' head offices. The city's focus on innovation is evident through initiatives like Innovate Durban, a non-profit organization established to support technology-based businesses in the region. In the agri-business sector, Durban serves as a hub for processing agricultural products from the province of KwaZulu-Natal, while the life sciences sector aims to leverage the presence of leading pharmaceutical companies like Aspen Pharmaceuticals and multinational companies like Supla to further develop the industry. With its diverse range of investment opportunities and a business-friendly environment, Durban is poised to attract a new wave of investors keen on tapping into the city's economic potential.