KwaZulu-Natal government signs landmark yacht manufacturing agreement with Italian company
Image: KZN Provincial Government
The deal signed between the provincial company and an Italian yacht management company could help unlock billions of rand in the province's ocean economy while positioning KwaZulu-Natal as an ideal location for yacht building.
This is according to the provincial government which said KZN Premier Thamsanqa Ntuli had signed a landmark agreement with Italian marine industry leader Navigo International.
The province has described this as a new era for KZN's ocean economy. It said the partnership marks a bold step in unlocking the province's R100 billion maritime potential, leveraging its 820 km coastline, world-class ports, and emerging marine manufacturing sector.
The highlights of the agreement include: Superyacht Manufacturing Hub : KZN to co-develop and export luxury vessels in partnership with NAVIGO, competing with global players like Italy and France.
: KZN to co-develop and export luxury vessels in partnership with NAVIGO, competing with global players like Italy and France. Skills & Jobs : Thousands of jobs are expected in shipbuilding, marine engineering, and coastal tourism, with training at UKZN, DUT, and Transnet Maritime School.
: Thousands of jobs are expected in shipbuilding, marine engineering, and coastal tourism, with training at UKZN, DUT, and Transnet Maritime School. Port Upgrades : Durban and Richards Bay ports will expand as superyacht repair and refit centres, attracting high-net-worth tourism.
: Durban and Richards Bay ports will expand as superyacht repair and refit centres, attracting high-net-worth tourism. Global Marketing : KZN-branded yachts will feature at the Monaco Yacht Show, Dubai Boat Show, and other elite maritime events.
: KZN-branded yachts will feature at the Monaco Yacht Show, Dubai Boat Show, and other elite maritime events. Inclusive Growth: SMEs and coastal communities will benefit through supply chains, boat repair cooperatives, and eco-tourism ventures.
Premier Ntuli declared that the agreement is about launching KZN into the global superyacht industry. 'We are turning our ocean into jobs, innovation, and sustainable growth,' he stated.
The premier's office said the province has the potential to be a "giant" in the ocean economy. It noted that KZN is strategically located as a gateway to the Indian Ocean trade routes, with existing infrastructure such as Dube TradePort, Richards Bay IDZ, and major port expansions.
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'We are building on the R85.5 billion pledged at the KZN Investment Conference. We are not just building boats — we are building a new economy. From uMlazi to uMhlanga, this sector will create intergenerational wealth while preserving our coastal heritage,' he added.
Musa Zondi, the MEC for Economic Development, Tourism and Environmental Affairs, said Navigo's interest in KZN marked a significant endorsement of the province's strategic vision.
'What we envision together is not just economic growth, but growth with a purpose, growth that upskills young people, growth that partners with local business. Growth that places KwaZulu-Natal on a global map as a yachting and refit destination.'
Commenting on the agreement, Dr Sabelo Gwala, Special Advisor to the Premier, said the agreement is a fulfilment of a long-held ambition.
'Today marks a decisive shift from vision to reality in KwaZulu-Natal's blue economy. For too long, the potential of our oceans has been spoken about in conferences and policy documents — but Premier Ntuli is transforming rhetoric into tangible action. This partnership with Navigo International is the foundation of a new industrial ecosystem that will redefine our coastline.'
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