Date: 13/11/2006
Source: Gauteng Provincial Government
Title: Shilowa: Launch of Consumer News and Business Channel Africa


Statement by the Gauteng Premier, Mbhazima Shilowa, at the launch of Consumer News and Business Channel (CNBC) Africa


On behalf of the government and the people of Gauteng, I would like to welcome CNBC Africa into our province and our country.

The decision to set the CNBC Africa head office here in Gauteng is yet another confirmation of the importance of our province in the global economic stage.

Gauteng is a major determinant and contributor of economic and social development in the continent. It is classified as Africa's 4th largest economy (after South Africa, Egypt and Algeria) and as the economic hub of the sub-continent and as such we have a critical role to play in reducing poverty and ensuring sustainable economic growth and development of our country and continent.

CNBC follows in the steps of a host of other multi-national corporations who have chosen Gauteng as a home for their corporate headquarters.

The political stability we have experienced in the province since 1994 counts among the reasons why big companies are choosing to relocate their continental head offices here.

Other reasons are that Gauteng is a crucial air transportation hub in the region and a major link between continental and international air traffic destinations. The OR Tambo International Airport provides quick and direct connections with most primary airports in the Southern African Development Community (SADC) region, the continent and internationally.

Gauteng also plays a crucial role in road and rail transportation and logistical support, especially in the sub-continent. We are also proud of our strong finance and communications sectors.

We are therefore pleased to welcome CNBC Africa because we understand that when companies set up their headquarters in our province, new skills and technologies are also attracted into the province.

This has a multiplier effect in the economy as a whole as these multi-nationals might seek suppliers here thus creating new industries, stimulating production and employment. Greater inflows of foreign exchange are also enhanced which helps our economy to growth further.

The entry of CNBC Africa into our region is therefore important for the overall economic growth and development of our country and our continent.

CNBC will provide valuable economic information that will help South Africa build an image of economic prosperity and assist in positioning Gauteng as a globally competitive city region.

The launch of CNBC Africa is therefore a validation of the efforts made by the Gauteng government to make Gauteng a preferred destination for big business. We are keen to support CNBC Africa in their efforts to bring quality broadcast news content to the region and wish them a productive experience here.

I thank you.

Issued by: Gauteng Provincial Government
13 November 2006