The recent spate of serious events in the Johannesburg central business district (CBD), including the tragic fire in Marshalltown that claimed 77 lives and the devastating gas leaks in De Korte and Bree Streets, continues to raise concerns over poor urban management, a lack of by-law enforcement and inadequate governance within the CBD. As an invested stakeholder in the inner city for the last 20 years, with more than R5 billion invested in the Johannesburg CBD, TUHF Limited shares its insights:
Paul Jackson, chief executive officer of TUHF, says: “Although the media coverage of these devastating events draws a much-needed spotlight towards the challenges faced in the inner city of downtown Johannesburg, these events are regrettably not isolated and in fact are a consequence of a much longer-standing issue. One that must be addressed as a matter of urgency.”
TUHF has actively engaged with the local government regarding the prevailing and underlying issues that have preceded the most recent headline events. Solutions are needed for the lack of service delivery, the increased scourge of hijacked buildings, damage to properties caused by the 2021 riots, xenophobic attacks and dangerously insufficient maintenance of infrastructure.
There is an urgent need for improved management and intervention in the CBD to ensure the safety of the people who live there and the imperative growth of this vital economic hub.
Johannesburg as an investment
As a leading impact investor in South Africa’s inner cities for 20 years, TUHF has promoted the inner city of Johannesburg as an investment destination, particularly for ordinary South Africans. Regeneration in the inner city has seen rundown buildings turned into successful affordable rental housing businesses. TUHF has empowered aspiring property entrepreneurs to create safe homes and jobs within the inner city and to make an impact on communities that live, work and play there.
“We remain committed to the property investors we support, and as such, we must call for urgent change in the way the Johannesburg CBD is being managed,” says Jackson.
“The well-being of the residents and businesses in the CBD should be a top priority for the city,” Lusanda Netshitenzhe, chief executive officer of TUHF21, says. “TUHF urges the City of Johannesburg to prioritise improved management and better governance of the inner city and to take concrete steps to address its deterioration.”
The company believes in the investment case of inner cities as essential to inclusive and transformative economic growth. Inner cities have the potential to drive real growth at a local level, providing economic opportunities to small, medium and micro enterprises (SMMEs) and low to moderate income households.
“We maintain that collaboration is essential to address the challenges that are apparent in Johannesburg,” says Netshitenzhe. A coordinated and comprehensive approach is needed to restore confidence in the CBD for all the city’s stakeholders. This reality cannot be ignored any longer, and TUHF joins all invested stakeholders of the inner city in calling for urgent action and changes to the way the city is managed.
“We are committed to collaborating with the city and other stakeholders to find sustainable solutions to the issues facing the CBD and believe that a united effort is essential to create a more prosperous city,” concludes Netshitenzhe.
Issue: How to address the issues plaguing Johannesburg.
Solution: A collaboration between the city and other stakeholders to find sustainable solutions to the issues facing the CBD is essential to create a more prosperous city.
On the left: “We maintain that collaboration is essential to address the challenges that are apparent in Johannesburg.” -– Lusanda Netshitenzhe, chief executive officerCEO of TUHF21
On the right: The chief executive officer of TUHF, Paul Jackson, says: “There is an urgent need for improved management and intervention in the CBD.”
For more information, contact TUHF:
Tel: +27 10 595 9000/45