Russell Curtis, head of Invest Durban, recently expressed his unwavering optimism about the city’s future. According to Curtis, Durban is on the cusp of a new era of growth and prosperity, driven by a significant shift in business confidence and a robust pipeline of private sector investments. He firmly believes that the worst is behind the city, and the road ahead is paved with opportunities.
Curtis states, “Durban’s future looks brighter than its past, and I’m absolutely convinced we’re past the worst.” This optimism, he explains, is not based on “blind faith and hope” but is instead supported by visible measurements and indices.” He highlights a significant milestone: “For the first time in two to three years, the Durban Business Confidence Index has tipped above the 50% mark, reaching a net positive at 55%.” In contrast, the National Bureau of Economic Research’s business confidence still lingers around 35%. Curtis sees this as a “significant turning point,” indicating that businesses in Durban are becoming increasingly optimistic about the future.
Meaningful Progress
A key factor driving this newfound confidence is a substantial pipeline of flagship investments. Curtis reveals that “we’ve got a fantastic pipeline of flagship investments coming in, totalling around R250 billion in private sector investments.” These investments are not merely theoretical; they are already being realised across the city. He cites the Whetstone development in the north Aerotropolis, which has attracted R2.5 billion in private sector investment, in addition to the +/-R500 million already invested by the industrial park developer. Curtis emphasises that these are “not just numbers on paper but immediately visible nodal projects that are creating 1700 new jobs there, driving economic activity, and laying foundations for future Aerotropolis growth.”
However, Curtis acknowledges that Durban has had its challenges, particularly in areas such as energy, industrial logistics, and water. These have often been considered as “Achilles’ heels”. Yet, Curtis notes that these issues are “now getting the fullest attention they deserve at national plus local levels.” He points to National Partnership initiatives such as “B4SA” by National Business bodies, Business Unity South Africa (BUSA) and Business Leadership South Africa (BLSA), plus provincial private public partnership facilitation through the KZN Growth Coalition, and the Presidential eThekwini Working Groups at Metro level, which are beginning to show “meaningful progress”. Curtis is particularly encouraged by developments in the energy sector, where “the lights are staying on a lot longer,” and the Metro is poised to see “utility-scale independent power production coming online soon.”
International Investors
In terms of transport and logistics, Curtis highlights that “Transnet is realising the need for private sector investment” and has already advanced various equity plus operating partnerships with both international and local investors. These range from smaller concession rail line slots to large equity investments from international players like the Philippines International Container Terminal Company. He stresses that these critical areas, previously identified as weaknesses, are “now getting the significant attention they need at the highest levels of Business and Government.”
Interestingly, Curtis observes that “the rest of the world often sees more opportunity in South Africa than we do in our own backyard.” He notes that international investors have already established a presence in Durban, particularly in the manufacturing, transport, logistics, and distribution sectors. For example, these are, “one of the global leaders in food and beverage manufacturing (PepsiCo.), plus one of the top three global flavourant companies (Kerry Foods) have recently expanded into Durban, along with new foreign direct investment (FDI) from top five shipping and logistics groups,like CMA-CGM.”
Additionally, South Africa has been rated as “the best place on the planet for contact centres for the last five years, with Durban leading in several aspects.” These opportunities are not just limited to customer service but also include “legal process outsourcing, digital animation and film processing, digital health diagnostics, plus consumer protection tech,” highlighting the diverse opportunities available in Durban.
A Significant Impact
Agriprocessing, Curtis asserts, “will always be a cornerstone of our economy, and the continent.” He reveals that significant global investors are eyeing multi-billion Rand investments in this sector, with some expected to “be buying sites before the end of this calendar year.” On the tourism front, Durban’s coastline is a major asset. With “600 kilometres of KZN Provincial beaches,” Curtis compares it to Portugal in size, noting that Durban alone boasts “100 kilometres of warm Indian Ocean frontage.” He acknowledges that the city is working hard on “fixing some of the infrastructure challenges that partially tarnished our image,” and as these improvements take hold, “we’re seeing big investments coming in.” One such project is the Club Med beach resort development coming out of the ground just north of Durban, which Curtis believes will “make a significant impact on our tourism sector, attracting more international flights to boost our economy.”
Curtis is clear about the path forward for Durban: “Now is the time for us to dust off the past and set a clear partnership vision for the future.” He stresses the importance of collaboration, urging the city to “pull in partners, both international and local, and engage directly with public sector regulators to craft solutions that will accelerate our progress.” For Curtis, this is about “building the future we all hope for – a future where Durban is a thriving, dynamic city offering opportunities for All.”
Opportunities For All
In conclusion, Curtis reflects on the broader mission: “Ultimately, our mission is to source, unlock, and leverage accelerated investment growth for the benefit of all, in a globally connected, sustainable, and flawless manner.” He expresses joy in being part of this journey, helping to “shape a brighter future for Durban and beyond.” Curtis firmly believes that “the work we do today will determine the Durban of tomorrow,” and by staying focused, determined, and united, the city can “build a city that offers opportunities for all its residents and serves as a model for sustainable development in Africa.”
He closes by invoking the official motto for KwaZulu-Natal, “Masisikume Sakhe,” drawn from the isiZulu Bible, meaning “Let us arise and build.” Curtis declares, “Now is the time again.”
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