South Africa: Mashaba Announces R20-Billion Investment to Rebuild Joburg's Inner City

analysis

After two years of talking about the need to rebuild the inner city, Johannesburg Mayor Herman Mashaba on Wednesday announced that R20-billion has been invested into turning Johannesburg's inner city into a construction site with the aim of building affordable residential units and student accommodation.

In December 2016, Joburg Mayor Herman Mashaba declared that he had plans to see the inner city of Johannesburg "reborn" as the people of Johannesburg demanded change.

A little over two years later Mashaba announced that through the release of City properties to the private sector, R20-billion had been invested to redevelop and rebuild the inner city while at the same time creating affordable housing. This multi-billion investment was in addition to the three developments already underway in Hillbrow and Newtown.

Mashaba briefed the media about the investment at the City's Metro Centre, on Wednesday but said it would be premature to announce who the investors were at this stage.

According to Mashaba, the need for better housing in the inner city stems from the fact that more than 150,000 people were on the city's housing list and there was a backlog. There were also about 3,000 migrants who come into Johannesburg every month in...

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