News - CoJ presents an update on Johannesburg's Economic Performance

 
 
On Tuesday 3 April 2018, Akhona Mgwele from CoJ Department of Modelling and Economics gave an updated presentation on Johannesburg's Economic Performance with specific focus on how the National budget will effect CoJ's service delivery and infrastructure budgets.
 
From Mgwele's presentation:
 
  • The reduction in overall government expenditure over the next three years will have a negative impact on service delivery and capital programmes for the Johannesburg municipality as grants to local government will also be reduced.
  • The impact of spending cuts falls mostly on capital programmes and a substantial reduction has been made to the municipal infrastructure grant. This will require the City to partner with private investors to stimulate the City’s economy and funding of big capital investment projects.
Among the measures being pursued by the City to accelerate economic growth are:
  • Catalytic development projects which change the economic growth and investment narrative for the city – including revitalisation of the inner-city.
  • Deepening and broadening small business development, township economy and local spatial economic development including industrial zones and transit corridors.
  • Active pursuit of investors of defined profiles (industry, value chains and type of investor), to attract firms focusing on both domestic and export markets for goods and services and firms in sectors which can absorb labour and upgrade skills.
  • Measures and investment to make the City function better and improve Johannesburg’s locational offering in terms of attractiveness to work, live and visit. 
 
 
See the full presentation HERE
 
Image: Behance