CAPE TOWN - The Buffalo City Metro Municipality said about R150 million was invested in and around the City during the weekend of the ANC's January 8 statement held in East London.
The event is believed to have attracted about 200 000 supporters nationally and abroad.
By the look of things, the province's local businesses have more to gain from the ANC events, as the ruling party has announced that 2018 will be the year of Nelson Mandela, and has called on the city to build more hotels and create more B&Bs, Daily Dispatch reports.
Buffalo City spokesperson, Samkelo Ngwenya said, "Now if one takes into cognisance that as much as this was a one-weekend event, economic contributions started well in advance, it is safe to say that when we conduct our won report, the figure could be higher than our estimates".
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Ngwenya added that retail stores, hotels, taxis and buses, petrol stations, businesses, rental and accommodation establishments were the biggest winners. Informal traders, street vendors, hawkers, car washers, car guards also got a piece of the cake.
"The province was able to negotiate the increase in the number of flights coming into the City as the normal ones were fully booked".
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This event came in the wake of a high festive season which also had a huge turnover and a series of entertainment events.
Many visitors are said to be exploring getting holiday homes in the city, and this will definitely boost the tourism sector in the province.