South Africa sets aside R100 million to revamp abandoned properties

The City of Johannesburg Mayor, Herman Mashaba, has announced that R100 million has been set aside to revamp six properties in Soweto, South Africa’s historical township. Photo: IOL

Johannesburg, South Africa (ADV) – South Africa’s City of Johannesburg Mayor, Herman Mashaba, recently announced that R100 million has been set aside to revamp six properties in Soweto – South Africa’s historical township.

According to a statement release by Mashaba on his social media blog called Mashaba OnPoint, these properties are abandoned filling stations.

Mashaba’s announcement follows a tour by the Department of Economic Development and the Johannesburg Property Company to two of these properties.

“Investment in one property will affect the growth of businesses surrounding it, in turn uplifting the entire community and creating much-needed jobs,” said Mashaba, encouraging local entrepreneurs to take full advantage of this opportunity to own and manage the businesses.

The release of these properties as part of the economic revitalisation was approved in October last year.

Through the release of these City-owned properties, the City aims to facilitate job creation for the residents of Soweto through investment.

“These filling stations can also bring in other services and support other businesses that will make the investment even greater,” added Mashaba.

The development of the six properties alone, over 12 000m² will be developed or upgraded and 580 jobs created. The City of Johannesburg said it was aiming to do more in this kind of investment in previously disadvantaged areas like Soweto as key in addressing both spatial inequality and access to economic opportunities for many of our people.

This investment also aims at creating a business-friendly environment that attracts investors and entrepreneurs that lead to the creation of much needed jobs, and ultimately, achieve a 5% economic growth rate by 2021.

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