CEO Insight interviews Russell Curtis, CEO of Invest Durban

LONDON, UNITED KINGDOM, December 19, 2023 /EINPresswire.com/ -- In a compelling video interview, Russell Curtis, CEO of Invest Durban, provides invaluable insights into what attracts US investors to Africa's vibrant shores. Curtis delves into the nuanced requirements, thriving sectors, and the city's unique appeal, shedding light on the opportunities that await.
View the Video Interview: A video interview with Russell Curtis, CEO of Invest Durban is available as part of the Insight Interview Series on CEO Insight Magazine's website
Meeting Investor Prerequisites
When asked about the prerequisites that US investors seek when entering Africa, Russell Curtis highlights a common set of requirements shared by most investors. These include the rule of law, access to capital, secure land ownership, intellectual property protection, access to skilled talent, and robust logistics infrastructure. Curtis emphasizes that South Africa, and Durban in particular, excels in meeting these fundamental requirements, boasting the largest port in sub-Saharan Africa and a strong logistical advantage.
Thriving Sectors
Invest Durban's diversified economy positions it for future growth across multiple sectors. Curtis points to high-tech manufacturing, including Toyota Automotive's largest African manufacturing footprint and Unilever's best-in-class global manufacturing facilities. Information and communication technologies, call centers, and electronics manufacturing are also thriving in the city. The tourism industry is a significant focus, with Durban's stunning 100-kilometer coastline offering vast potential for investment in this sector. Curtis notes that while Durban has a rich array of attractions, there is still room for exciting developments like ski resorts, the London Eye, and Club Med.
Building Bridges and Overcoming Challenges
Curtis acknowledges the importance of enhancing political stability and maintaining non-alignment in a turbulent world. South Africa aims to reassure US investors and business leaders that it remains open for business, regardless of short-term political fluctuations. Curtis also highlights the need for improved air connectivity between the Americas and Durban, a key factor in attracting US investors. Despite having the award-winning King Shaka International Airport, Durban must work on marketing itself as a strategic global hub.
Strengthening Public-Private Partnerships
Durban's approach involves deepening public-private partnerships, both domestically and internationally. Curtis emphasizes the value of these partnerships in addressing infrastructure, education, agriculture, and environmental issues. The city seeks to forge B2B engagements that resonate with US businesses, delivering economic benefits and fostering trust.
Undiscovered Gem and Unique Cultural Blend
Curtis refers to Durban as an "undiscovered gem," emphasizing the untapped potential and latent opportunities awaiting US investors. The city's rich cultural diversity and vibrant population provide a unique blend of attributes for entrepreneurs. Durban's natural English-speaking population, legal framework, and business-friendly environment offer a fertile ground for innovation and corporate growth.
The Time is Now
Russell Curtis believes that Durban is ripe for investment due to its undiscovered status and latent opportunities. The city's advantages, such as a high quality of life, affordable living costs, and a favourable business environment, make it an attractive proposition for US investors seeking growth and profitability.
Tax Benefits and Incentives
Investors looking at Durban can benefit from a range of financial and non-financial incentives offered by different government spheres. These include municipal property rate rebates, special economic zones with reduced corporate tax rates, rent-free periods, and labour cost incentives. These incentives aim to facilitate investment and promote business growth.
Success Stories and Investment Opportunities
Durban has already attracted international giants like Samsung Electronics, Unilever, and Toyota. The city's numerous catalytic projects, focused on industrial parks, urban regeneration, and tourism assets, provide exciting investment opportunities. Curtis emphasizes the potential for US investors to tap into the value chains of multinationals and participate in the vibrant and rapidly expanding African market.

About Invest Durban
Invest Durban is the official investment promotion agency for the eThekwini Municipality (Durban), responsible for attracting, facilitating, and retaining foreign and local direct investment in the region. The agency plays a crucial role in promoting economic development and growth in Durban.

Jamie Harrison
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CEO Insight

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