Absa Corporate and Investment Banking (CIB) is working with the Nelson Mandela Bay Business Chamber (NMBBC) on a dedicated Projects Desk, supporting business reinvention in the economically expanding metro.
The Projects Desk will identify, package, and accelerate high-potential projects aimed at attracting investment, creating employment, and unlocking the Bay’s untapped economic potential. With a focus on strategic sectors such as renewable energy, agro-processing, and the low-carbon economy, this action-focused initiative positions Nelson Mandela Bay as a rising hub for innovation and sustainable growth.
The Bay of Opportunity strategic development campaign was launched in mid-2024, aiming to position Nelson Mandela Bay as a diverse investment and low-carbon manufacturing hub on the African continent, showcasing its economic and infrastructural capabilities alongside the country’s other investment hubs.
“This is about creating an economy that works differently - one that is innovative and agile, able to respond to the fast-changing environment and to be investment ready,” said Denise van Huyssteen, CEO of the Nelson Mandela Bay Business Chamber. “We know that economic reinvention doesn’t happen from the sidelines. That’s why we’re stepping into the space of action, to create real momentum around the Bay of Opportunity vision.”
“We are proud to join forces with the Nelson Mandela Bay Business Chamber in this transformative initiative. The Projects Desk represents a powerful step toward unlocking the region’s economic potential.
As part of our Force for Good strategic pillar, we are committed to supporting the development of local businesses and fostering inclusive growth that drives employment and builds resilient, future-ready industries. Together, we can shape a thriving and sustainable economic landscape for the Bay and its communities,” said Jules Shefer, Absa CIB Coverage Banker and project spokesperson.
Spearheaded by the NMBBC (with Absa as the anchor partner ), the Projects Desk will serve as the delivery arm of the Chamber’s Local Economy Reinvention Think Tank - the strategic body behind the Bay of Opportunity vision.
For many years, stakeholders across business, policy, and economic development have recognised the significant untapped potential within Nelson Mandela Bay. Its unique coastal location, dual-port infrastructure, robust manufacturing sector, and diverse industrial assets position it perfectly for transformation into a leading African economic hub. With the establishment of the Projects Desk, this potential is now set to be unlocked.
Seven projects have already been identified for catalysation by the Projects Desk, which will:
- Generate economic intelligence to identify new growth opportunities;
- Assess economic risks to guide smarter investments;
- Promote policy reforms that create a friendlier business climate;
- Test pre-feasibility of high potential ideas to ensure viability and speed up implementation;
- And provide technical expertise to help move projects from paper to practice.
Absa’s involvement in this groundbreaking initiative underscores its commitment to inclusive regional development, as the Bay reimagines itself as the next frontier for investment on the African continent. Through strategic collaborations with purpose-driven organisations like the NMBBC, Absa continues to enable real social impact by driving financial inclusion and being an active force for good in everything that we do in a way that is scalable and sustainable, aligned to South Africa’s economic transformation goals.
“Absa’s partnership gives us both the expertise and the muscle to turn great ideas into actionable, fundable projects. Their involvement reflects a deep, strategic commitment to inclusive economic ecosystems,” said van Huyssteen.