North West Premier Lazarus Mokgosi has announced significant progress in commercialising provincial nature reserves, securing investment commitments exceeding R420 million. The initiative forms part of the province's Growth and Development Strategy, promising benefits for local communities through jobs and equity shares.
The North West Provincial government reported notable advances in its plans to commercialise nature reserves under the Provincial Growth and Development Strategy.
Premier Lazarus Mokgosi stated that investors have committed more than R420 million, backed by bank guarantees and proof of financial capacity. "To date, we have been able to attract investment commitments of over R420 million, where investors have provided bank guarantees and proof of financial capacity. The model will encapsulate lease agreements and equity participation where host communities and traditional authorities will benefit through lease income, equity participation, job creation, and enterprise opportunities," Mokgosi said.
The premier also highlighted efforts to formalise a partnership with the Department of Public Works and Infrastructure to revive Pilanesberg Airport. This move aims to boost commercial activities in the region.
Mokgosi noted that while challenges remain, the province is moving in the right direction with these developments.