Mayor Herman Mashaba on how the city of Joburg is attracting investors

Johannesburg Mayor Herman Mashaba recently sat down for an exclusive interview with CNBC Africa to discuss the exciting investment opportunities available in the City of Johannesburg and the efforts being made to strengthen business ties with Italy. Mashaba highlighted the historical trading partnership between Italy and South Africa, acknowledging that Europe, including Italy, had begun to have doubts about the future of investing in South Africa. To rebuild trust and attract long-term investments, Mashaba emphasized the importance of focusing on brick and mortar investments that could help reduce the high level of unemployment in the city. The Mayor outlined his vision for revitalizing the inner city, describing it as a second discovery of gold after 1886. With over 300,000 housing backlogs in Johannesburg, Mashaba sees a tremendous opportunity for the private sector and property funds to invest in developing properties that can cater to the growing demand for affordable housing. The city is implementing special measures to streamline building applications and investing in infrastructure to accommodate more residents in the inner city. In addition to housing development, Mashaba discussed the importance of promoting small and medium enterprises (SMEs) in Johannesburg. He noted that South Africa had failed to adequately support SMEs over the past 24 years and emphasized the need for artisan training programs to cultivate skilled tradespeople in the city. As part of the inner city redevelopment initiatives, Mashaba is encouraging property developers to include spaces for SMEs in their projects to create a conducive environment for small businesses to thrive. By focusing on both housing development and SME promotion, Mashaba aims to create a vibrant and sustainable economy in Johannesburg that can benefit both local residents and international investors.