Bloemfontein (Dutch for spring flowers) is the capital of the Free State Province in South Africa. Being the judicial capital also means that it is one of the three national capitals of South Africa. Affectionately known as the ‘City of Roses’ due to the abundance of these flowers in the area, the annual Rose Festival is held here. Bloemfontein is also known as “Manjung” or “Place of the Leopards”.
The consumer market of this city is surprisingly wide. In addition to its population, thousands of Lesotho citizens as well as farmers in the surrounding rural areas have significant purchasing power. The influx of these consumers at the end of the month regularly boosts the retail market.
According to their official website, nearly 50% of the millions injected into the Lesotho region from abroad is spent in Manguang, while the economy of the local municipality also plays an important role in both the economy of the Motheo region and the economy of the Free State.
Much of Manguang’s economy relies on contributions from community services, but there are other important industrial sectors including retail, finance, manufacturing, and transportation. Sectors such as agriculture and mining contribute a small portion to the local economy. Their official websites state that “Community services contribute 35% to the city’s economy, transportation 13%, finance 18%, agriculture 4%, manufacturing 8%, commerce 16%, utilities 3%, and construction 3%.”
The area has many opportunities on offer for any investor looking to develop and explore the economic potential of Bloemfontein and the surrounding areas. Bloemfontein wants to bring about local prosperity and welcomes investors who are ready 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 group of semi-skilled workers and skilled workers as a labor force. This is beneficial for any local business looking to expand as well as any new businesses wishing to establish a base in the surrounding area. The municipality is already working hard to focus its energy on creating Bloemfontein as an environment that makes it easy and beneficial to do business in the area. They want to achieve this security for investors by ensuring that the economic fundamentals are in place.
As a city, with the help of a specific local municipality, Bloemfontein is ready and willing to expand and develop its economy, which means that job opportunities should be plenty.