Halal Industrial Park
Award-winning risk assessment spurs investment in Halal project
The Western Cape Department of Economic Development and Tourism (DEDAT) initiated a project to identify sections of the Western Cape economy that had the greatest potential for accelerated and sustained growth and job creation.
The project highlighted the significant contribution that the agri-processing sector made to the region’s economy. One of this sector’s three strategic intents was to grow the province’s share of the global halal market from < 1% to 2% by 2025.
DEDAT appointed the Western Cape Fine Food Initiative (WCFFI) to undertake a two-part feasibility study to develop an implementable business plan for the establishment of a halal industrial park in the Western Cape. In 2017, Zutari was commissioned to produce the feasibility study and business case as part of the ambitious economic development strategy to stimulate local business investment and growth in the global halal market.
“Infrastructure investments are becoming increasingly complex in our fast-moving world and it is becoming more important to gain insight into uncertainties that will ultimately determine project success. Our ability to turn uncertainty into certainty was key in making the concept of a halal industrial park a reality,” says Dr Chris von Holdt, Zutari Advisory Market Lead.
The diversity of stakeholders in the project, who included the Muslim community, existing halal businesses, three different departments of government, and three property owners, made this project particularly complex. Adding to this was the client’s uncertainty as to how their objectives should be achieved.
Our ability to turn uncertainty into certainty was key in making the concept of a halal industrial park a reality
In order to clarify the complexity and interdependencies of the investment strategy for the range of stakeholders, Zutari created a unique engagement environment. The team was able to reshape the project scope and deliverables to better define the investment strategy.
The risk advisory team initially established the context by creating an innovative risk management approach, which enabled the critical assessment of the contextual internal and external issues that could influence the viability of the project ahead of the project design. Having a deep contextual understanding of key success drivers led to clear risk identification.
The initiative was a first of its kind in South Africa and the award-winning risk assessment resulted in the development of investor prospectuses that were used to market and promote investment in the halal industrial park project.
The company’s involvement in the halal industrial park feasibility study led to them being announced the winner in the Professional Services Category for the fourth consecutive year at the 2017 Institute of Risk Management South Africa awards.
*The Aurecon Africa business has been officially renamed Zutari as at 21 July 2020. Zutari acquired Aurecon Middle East on 20 November 2020.
