Nelson Mandela Bay’s R25 Billion machine
The Coega SEZ 6th annual report, launched in partnership with Stats SA at the Coega Vulindlela Accommodation and Conference Centre in Gqeberha on 24 March 2025 showed some interesting numbers.
The survey, audited by Stats SA, took into account the financial performance of 57 enterprises (tenants) in the Coega SEZ – up from 39 tenants in 2018 and increased from 46 tenants in 2024.
Top line numbers were mostly flat:
- Total turnover across all tenants for 2025 was R24.9559 Billion – a tad lower than the turnover for 2024 at R25.041 Billion.
- Total expenditure for 2025 was R23.98 Billion – significantly lower than 2024 at R24.286 Billion.
- Salaries and Wages costs for 2025 was higher for 2025 at R2.079 Billion compared to R2.013 Billion in 2024
Net Profit
The most important number was the Net profit before tax across all tenants of R1.606 Billion – higher than the R1.436 Billion net profit figure in 2024 despite lower turnover and higher salaries and wages in 2025.
With reference to the increased net profit across the board and increase in salaries and wages the number of employees increased to a total of 11 243 (6817 direct and 4426 through labour brokers) – a significant increase on 2024’s employment figures of 9 842 (6 594 direct and 3 248 through labour brokers).
The number of female employees decreased to 35.8% from 38.6% in 2024.
One needs to allow for the increase in tenants from 2024 (47) before celebrating these 2025 (57 tenants) numbers.
The partnership with Stats SA gives a lot of credibility to the numbers and goes a very long way to demonstrating the progress through “evidence based development”. That all of our institutions would do so.
Coega SEZ Comments
In a release The Coega Development Corporation (Coega) welcomed the findings of the Statistics South Africa (Stats SA) 2024/25 Report on the Coega Special Economic Zone (SEZ).
According to the report, the total capital expenditure on new assets in the Coega SEZ for 2025 rose to R1 027 million compared to R937 million in 2024. The largest categories of capital expenditure were plant, machinery and equipment, signaling sustained investor confidence and long-term commitment to the SEZ.
Ms. Magama Makgamatho, Coega Chief Knowledge and Digital Officer, said: “The Stats SA report confirms what we see every day at Coega: a thriving, resilient, and forwardlooking industrial ecosystem driven by strategic planning, disciplined execution, and strong partnerships across government, business, labour, and our communities. This growth is not only economic, it is creating jobs and enabling long term development. Coega is not just an industrial zone; it is a catalyst for national development.
All business within the SEZ have adopted digital tools, underscoring Coega’s progress toward becoming a fully modern, tech-enabled industrial environment.
Ms. Makgamatho says that Coega remains committed to strengthening South Africa’s industrialisation agenda, attracting high-impact investment, enabling job creation, and driving inclusive, sustainable development.
“Coega is positioned not only as a provincial anchor for economic growth but as a national asset contributing meaningfully to South Africa’s global competitiveness,” she added.
Three Missing Numbers
Missing from the report were three numbers that would give Coega more support:
- Total tax paid to SARS via VAT, Corporate Tax and Duties (As the ultimate funder SARS would be interested to know how their ‘invetstment is faring).
- Total net salaries and wages paid (an indication of local money contribution)
- Total PAYE paid on behalf of employees (goes to SARS ‘investment’ recovery)
