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The Chief Executive Officer of the Cape Town Film studios, Mr. Nico Dekker has revealed that since December 2010, the foreign direct investment (FDI) and economic impact of productions hosted by the studios led to 47,044 jobs being created and the South African production expenditure amounted to R2 billion within the period under review.

In his remarks during a site visit to the Cape Film Studios in Cape Town, the Acting Chairperson of the Portfolio Committee on Trade and Industry, Mr. Adrian Williams observed that the South African Film and Television Industry is now receiving more FDIs from Hollywood’s major studios and creating employment for the services sector despite the economic challenges in the economy.

Business Hilights Intelligence Unit (BHIU) in a recent report, averred that the Nigerian Nollywood industry is yet to make any remarkable inroad to tapping investment inflow from the United States Hollywood.

Williams added further that the portfolio committee not only wanted to oversee the work done by the Department of Trade and Industry in the film and television industry, but also wanted to see returns on investment through employment created and transformation achieved as a result of the incentive that the companies receive from the department.

It is on record that the Motion Picture Association of America (MPAA) recently invited the Portfolio Committee to the set of the Warrior television series which is currently shooting at the Cape Town Film Studios in an effort to showcase their high-profile project.

This was further observed by Mr Nico Dekker who disclosed that “The overall contribution the studios made into the South African economy is R6 billion. The manufacturing process at the studios opened doors to a wide range of artisans that normally do not have access to the movie industry. This created significant empowerment to carpenters, painters, builders, garment workers, metal workers, landscapers and horticulturists”.