The Coega Development Corporation has attracted 16 new investments to the value of R11.69 billion over the last financial year.

According to press, the corporation generated an income of R532,7 million for the 2016 –17 financial year.

Lionel Billings, Coega’s financial head said, “This is the first time in 17 years that Coega has generated a half a billion rand in income.”

During the year Coega spent R776 million on small, medium and micro enterprises. This has generated 16,500 jobs and 5,887 people have benefited from training and development opportunities.

Ayanda Vilakazi, head of marketing at Coega, says the corporation is most proud of the number of jobs they have generated since they were established in 2000, adding that the number of jobs generated now stands at 102,794.

The Indian naval ship, Tarkash, docked at Berth 2 of the V&A Waterfront this week. According to the press the vessel arrived from Walvis Bay, Namibia and is part of the Indian navy’s Western Fleet, known as the Sword Arm of the Indian navy. The vessel is usually based in Mumbai on the west coast of India.