Over the last three years one of the most important initiatives undertaken by the Provincial Government is the reorganisation and refocusing of our public entities. We undertook this process because we wanted to gain greater value and benefit from these entities.

Wesgro, is the Western Cape's official trade and investment promotion agency, and one of the entities which was the subject of this reorganisation.

The agency's mandate is to ensure that the Western Cape:

• Attracts sufficient levels of investment to grow our economy and create jobs.
• Increase the exporter base and grow exports to key global markets.
• To market the Western Cape as a competitive business location.
• To act as an industrial development vehicle for the Provincial Government and the City of Cape Town.

Two years ago we initiated a transformation process within the organisation to refocus it on its core mandates. The process of transformation has been very successfully completed. The agency is well on its way to achieving its medium term targets and has in fact exceeded expectations. The agency recently launched a business brand for Cape Town and the Western Cape, which has been received very well by the business community.

With the passing of the legislation the agency will no longer be a platform for social dialogue and will now focus on its core mandate, attracting investors and promoting trade.

The passing of the legislation will see the agency become more financially accountable and compliant with the strictures of the PFMA.

The most important aspect about these changes is that they are meant to benefit our most important constituency, the people of the Western Cape. As the Premier has stressed, a home for all is home that takes care of all its' people.

Thank You.