Garden Route District Municipality (GRDM) recently received an all-expenses-paid invitation (accommodation and flights) from the ISCC Group of Companies in Indonesia to visit them. It was decided that the Executive Mayor of the Garden Route District Municipality (GRDM), Councillor Memory Booysen; the Municipal Manager, Mr Monde Stratu; the Executive Manager: Planning and Economic Development, Mr Lusanda Menze and the Manager in the Office of the Executive Mayor, Mr Siphiwe Dladla, to travel to Indonesia from 6 to 11 September 2018. GRDM came to know of the ISCC Executive Group Chairman and Chief Executive Officer earlier this year during the Garden Route Investment Conference.
Based on a concern raised by the Cllr Booysen, about presentations being made by companies who, not often return with tangible outcomes, the Chairperson and CEO of the ISCC Group, Mr Jean Bilala, extended an invitation to the GRDM, to visit their infrastructure projects in Indonesia in order to gain insight on the level and quality of what they are involved in.
The Group of Companies includes Ithuba Savings and Credits, LetsCoin $C and the ISC Bank. These companies have a footprint in Germany, the United Kingdom, Hong Kong, Australia, India, Japan, Singapore, Malaysia, Indonesia, Laos, Thailand, as well as South Africa. Their South African branch is situated in Cape Town.
The Group of Companies mainly focuses on technology, artificial intelligence and investment, and is a member of the prestige Bloomberg, as well as a lifetime member of International Securities Identification Number (ISIN).
The ISCC Group of Companies made the following proposal to GRDM:
- To develop a sustainable smart town for industrial, commercial and residential development within the Garden Route District Municipality; and
- The possible establishment of a manufacturing plant for electric cars of which the prototype was already developed and build in Germany (ISC Bank), within the Garden Route District.
During the visit, the delegation met with various business representatives in Indonesia, including businesses from India and Singapore, who indicated their intention or expanding and opening business in Africa. The visit was concluded with the signing of a Memorandum of Understanding (MOU) between Ithuba Savings and Credit; Len24 GmbH ISC Bank; E-Banking and Investment Solutions and the GRDM. The purpose of this MOU is to facilitate collaboration between the different parties in matters of common interest, as well as working arrangements necessary, for the implementation of the memorandum.
The priority areas which forms part of this understanding as outlined in the MOU are:
- Cooperation in establishing and identifying land and infrastructure required to implement investment goals; and
- To exchange information and identification of business opportunities to enhance mutual interests for the Garden Route and Western Cape Province.
GRDM is committed to positioning itself as a destination of choice for national and international investment and has recently embarked on various high-level engagements to realize these objectives.