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Property sector, investors and business industry say a 24-hour working City of Joburg, has potential to unleash endless opportunities for efficiency, growth and employment in the biggest metropolitan city.

The Member of the Mayoral Committee (MMC) responsible for Finance, Cllr Julie Suddaby, hosted the Post Budget Stakeholder Engagement session on Monday evening, 13 June 2022, where the business urged the city to re-imagine a 24-hour city to unlock opportunities. 

The discussion was facilitated by Landiwe Mahlangu, the Chief Economist from Amazwe Holdings.

The captains of industry said it was possible for Johannesburg to model other first-world cities such as New York, Buenos Aires or Tokyo which are benefiting from the night-time economy. The residents and tourists in these cities enjoy the twenty-four-hour cafés, supermarkets, cinemas, gyms, public transport and other services. 

Cllr Suddaby said Johannesburg has a population of roughly 6.2 million residents, matching cities such a New York, Hong Kong and London.

“Johannesburg has an unemployment rate of 40% and the youth unemployment rate is a devastating 55%. Our poverty rate is 52% and only 71% of households have access to electricity,” said Cllr Suddaby.

Cllr Suddaby emphasised that the City needs to work with private sector if the staggering unemployment and high levels of poverty were to be brought down.

Vuyiswa Ramokgopa, the Chairperson of the National Property Practitioners Council said, Johannesburg was the heartbeat of the South African economy.

“Johannesburg has to work, we have no choice. It’s imperative for government, business and stakeholders to realise the urgency to correct things. We need to start to think about the multi-usage of buildings in the inner-city. We need to start to move to a 24-hour city. There are so many former industrial areas, with abandoned factory buildings. We need to start thinking on how we can re-use them,” said Ramokgopa.

Aubrey Tshalata, the National President of the National African Federation for the Building Industry said as business they support the City’s Golden Start initiative which is aimed at repairing the broken infrastructure. 

“Business welcomes the budget allocation to City Power to ensure that the electricity grid is stable. However, the increases in property rates, water and electricity tariffs is going to put more pressure especially on small businesses,” said Tshalata.

Professor Peter Baur, the Associate Professor at the University of Johannesburg’s School of Economics, said the City should look into intensifying the Expanded Public Works Programme (EPWP) to both fix the broken infrastructure and lift people out of poverty.

“The kind of EPWP that was used by the United States during the great depression managed to pull the country out of economic depression, that’s the model we need to follow. We need to pay those enrolled in EPWP decent salaries not stipends. We need to spend more on infrastructure repairs in order to grow the economy,” said Prof Baur.

Prof Baur said the art industry was the good export for the country and can create jobs.

Neil Pollock, the Chairperson of the South African Chamber of Commerce and Industry (SACCI) said they were committed to working with the City to fix the broken City.

“We want to work with you MMC and the City. We are asking that you hold us [business] accountable as much as we will hold you [the City] accountable,” said Pollock. 

Issued by the City of Johannesburg