The V&A Waterfront, co-owned by JSE-listed Growthpoint Properties and the Government Employees Pension Fund (via the Public Investment Corporation), has funded the establishment of a new Circular Maker Space at the Cape Town Cruise Terminal.
This facility will be managed by the Craft and Design Institute (CDI), offering local designers, makers, and creative entrepreneurs vital access to tools, networks, and business support, all aimed at fostering enterprise growth, sustainability, and inclusive economic development.
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Recently inaugurated, the facility positions makers and designers in one of the country’s busiest tourist hotspots, attracting over 24 million visitors each year. It is designed to assist entrepreneurs in commercializing products, accessing networks, and scaling their businesses through a dedicated workspace focused on circular production and enterprise growth.
This investment is part of the V&A Waterfront’s comprehensive strategy to support small businesses and enterprise development.
It underscores the significant impact of CDI in this sector. Over the past decade, the organization reports securing more than R200 million in direct investments in small, medium, and micro enterprises (SMMEs) and facilitating an additional R420 million in investments, intended to create thousands of jobs across South Africa.
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According to V&A Waterfront CEO Graham Wood, this initiative exemplifies the precinct’s ongoing commitment to entrepreneurship and sustainable economic growth.
“The V&A Waterfront has always regarded investing in small businesses and creative enterprises as a vital investment in the future of Cape Town,” he asserts.
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Wood further emphasizes that the collaboration with CDI aims to create meaningful opportunities for makers while promoting sustainable business practices.
Najwah Allie-Edries, the head of the Jobs Fund, notes that this project exemplifies the success of enduring public and private sector partnerships.
“This is the essence of catalytic public finance: creating interconnected ecosystems of opportunity that foster sustainable economic participation and livelihoods,” she emphasizes.
CDI Chief Executive Officer Erica Elk states that the facility is intended to be a national asset for entrepreneurs beyond Cape Town.
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“This is not just a resource for businesses in Cape Town; it is a center of excellence for creators across the nation and the continent,” she clarifies.
This development arrives as policymakers increasingly acknowledge the creative economy as a viable source for investment, employment, and the growth of small businesses.
* Phenyo Selinda is a Moneyweb intern.
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