Business in Bloemfontein
Bloemfontein (Dutch for spring flowers) is the capital of the Free State province of South Africa. Being the judicial capital also means that it is one of the three national capitals of South Africa. Affectionately known as “the city of roses” due to the abundance of these flowers in the area, it is here that the annual festival of roses is celebrated. Bloemfontein is also popularly known as “Mangaung” or “Cheetah Place”.
The consumer market in this city is surprisingly large. In addition to its own inhabitants, there is great purchasing power among the thousands of Lesotho citizens and the farmers in the surrounding rural areas. The influx of these consumers at the end of the month drives the retail market on a regular basis.
According to its official website, approximately 50% of the millions injected into the Lesotho area from abroad are spent in Manguang, while the local municipality’s economy also plays an important role in both the Motheo district economy and the Free State economy.
A large part of Manguang’s economy depends on contributions from community services; however, there are other important industrial sectors, such as retail and commerce, finance, manufacturing, and transportation. Sectors such as agriculture and mining contribute a small part to the local economy. Its official websites state that community services “contribute 35% to the city’s economy, transportation 13%, finance 18%, agriculture 4%, manufacturing 8%, commerce 16%. %, utilities 3% and construction 3% “.
The area offers several opportunities for any investor looking to develop and explore the economic potential of Bloemfontein and its surroundings. Bloemfontein wants to have local prosperity and welcomes investors who are willing to support and encourage this. The area is little known, but it wants to be known internationally and nationally as a beautiful and safe place to live, work and invest.
There is a large complement of semi-skilled and skilled workers as the workforce. This is beneficial for any local business looking to expand, as well as any new business looking to establish a base in the surrounding area. The municipality is really working hard to focus its energy on creating Bloemfontein as an environment that makes it easy and beneficial to do business in the area. They want to achieve this security in investors by making sure that the economic fundamentals are in place.
As a city, and with the help of a given local municipality, Bloemfontein is ready and willing to expand and develop its economy, which means business opportunities should abound.