Report: WC water economy set to swell into multibillion-rand industry

MEC for Economic Opportunities Alan Winde says the manufacturing and supply of water-related technologies and services have the potential to make the industry highly profitable.

FILE: Picture: Pixabay.com

CAPE TOWN - The Western Cape water economy is set to swell into a multibillion-rand industry.

That’s according to a 2018 Water Market Intelligence report.

The data reveals the issue of water security in an ongoing drought is a key driver in growing the sector.

MEC for Economic Opportunities Alan Winde says the manufacturing and supply of water-related technologies and services have the potential to make the industry highly profitable.

Several sectors have buckled because of the drought in provinces including the Eastern, Western and Northern Cape.

The report states several key opportunities including the growing private sector demand for smart water metering systems as a tool for improved water management and adds that new residential and commercial property developments in the province are a key market for water-efficient devices and greywater reuse systems.

This presents a potential market of R900 million per year.

Spokesperson Bianca Capazorio said: “Now is the time for businesses and residents to invest in their own water resilience, so that we can continue to grow the economy, secure the jobs that we already have and create more jobs going forward.”

Capazorio says over the past year there’s also been growth in the demand for boreholes, well points and water treatment systems in the Western Cape.