Matjhabeng – The Matjhabeng Investment Summit has taken a bold step towards revitalising the region’s economy, with municipal leaders outlining ambitious plans to unlock substantial investment opportunities in the former mining heartland.
The two-day summit was held on Welkom on 16 and 17 October.
The Executive Mayor Thanduxolo Khalipha highlighted the severe economic decline triggered by local mine closures, which resulted in high unemployment and a struggling economy throughout Matjhabeng.
To counter this economic downturn, the municipality has developed a Local Economic Development strategy aligned with the National Development Plan’s vision, declaring Matjhabeng an energy hub designed to attract investment and create employment opportunities.
R100 Billion Investment Target
Mayor Khalipha announced that Matjhabeng’s target for this summit is to secure R100 billion in investments, building upon the success of a previous summit that garnered R55 billion in pledges.
“Pledges alone are insufficient—action is critical. We want tangible outcomes that translate into job opportunities for our people,” Khalipha stated.
He emphasised the municipality’s commitment to ethical governance and partnerships with reputable service providers to combat corruption.
The summit focused on actionable plans to ensure sustainable economic growth, prioritising job creation and transparent municipal operations.
“As leadership, we aim to restore the economic vitality of the municipality and provide opportunities for its residents,” Khalipha said.
Provincial Support and Vision
Premier Maqueen Letsoha-Mathae, who declared 2024 a year for “unleashing the economic potential of the Free State” in her State of the Province Address in February, attended the summit as a testament to provincial commitment.
The Premier revealed that Matjhabeng’s proactive approach to sourcing investments has already yielded results, with the municipality securing a substantial R5.5 billion investment from American sources and the energy sector.
This significant investment aims to transform the Goldfields region into a hub of economic opportunity, aligning with the provincial vision of renewal, action, and inclusive growth.
Infrastructure and Governance Focus
Addressing hundreds of potential investors, Premier Letsoha-Mathae emphasised the importance of establishing proper foundations to create a favourable business environment.
She highlighted the need for reliable infrastructure including roads, electricity, water, and sanitation, alongside good governance, clean towns, and job creation initiatives.
“If Matjhabeng can get the basics right, I am certain investors will not hesitate to invest in the municipality,” the Premier said.
Premier Letsoha-Mathae also stressed that contractors with government tenders and projects bear social responsibility to contribute to communities and create local opportunities.
To further support economic development, the government plans to provide land to the municipality for building student accommodation, creating job opportunities and stimulating local economic activity.
The summit drew participants from both the business sector, including mining houses, and the public sector, demonstrating broad stakeholder engagement in the municipality’s economic transformation efforts.
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