Bloemfontein (Dutch for Spring Flowers) is South Africa's Free State Province capital. Being the judicial capital as well means that it is one of the three national capitals of South Africa. Affectionately known as "the city of roses" due to an abundance of these flowers in the area, it is here that the annual rose festival is held. Bloemfontein is also known popularly as "Mangaung" or "place of cheetahs".
The consumer market of this city is surprisingly extensive. In addition to its own inhabitants, there is a large buying power within the thousands of Lesotho citizens as well as farmers in the surrounding rural areas. The influx of these consumers at month end boosts the retail market regularly.
According to their official website approximately 50% of the millions pumped into the Lesotho area from abroad is spent in Manguang, while the economy of the local municipality also plays an important role in both the Motheo District economy and Free State economy .
A large portion of Manguang's economy relies on contributions from community services, however there are other significant industry sectors including retail & trade, finance, manufacturing and transport. The sectors like agriculture and mining contribute a small portion to the local economy. Their official websites states that community "services contributes 35% to the city economy, transport 13%, finance 18%, agriculture 4%, manufacturing 8%, trade 16%, utilities 3% and construction 3%."
The area does have various opportunities on offer for any investors looking to develop and explore the economic potential of Bloemfontein and her surrounds. Bloemfontein wants to have local prosperity and welcomes investors who are willing to support and encourage this. The area is little known, but wants to be known internationally and nationally as a beautiful and safe place to live, work and invest in.
There is a large complement of semi-skilled and skilled worker s as their labour force. This is beneficial to any local business looking to expand as well as any new businesses wanting to establish a base in the surrounding area. The municipality really is working hard on focusing its energy on creating Bloemfontein as an environment which makes it easy and beneficial to do business in the area. They want to achieve this security in investors by ensuring that economic fundamentals are in place.
As a city, and with the help of a determined local municipality, Bloemfontein is ready and willing to expand and develop their economy, meaning that business opportunities should abound.
Jade writes for The Business Class who profile businesses in Bloemfontein.
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