City of Johannesburg Executive Mayor, councillor Herman Mashaba, recently stated that he is pleased with the R16,355 billion investment facilitated by the Department of Economic Development.

“The increase in facilitated investment will boost our efforts to create jobs and ultimately eradicate the scourge of poverty, inequality and social exclusion. I wish to congratulate the Member of the Mayoral Committee for Economic Development, councillor Leah Knott, and her team, for their hard work in ensuring that investors continue to have confidence in Johannesburg’s economy. This will ensure that the City’s economy continues to grow at a rapid rate,” Mashaba said.

According to Mashaba, this tremendous success augurs well for the objectives of the multi-party government of achieving five per cent economic growth by 2021.

In the first quarter, investment to the value of R4,2 billion was acquired, followed by R3,8 billion in the second quarter, R4,85 billion in the third quarter and R3,5 billion in the fourth quarter.

“I am particularly pleased with the increase in private-sector investment in the inner city. The City of Joburg continues to attract investors into the inner city through the Urban Development Tax Incentive. The revitalisation of the inner city is integral to achieving the economic objectives set out by the multi-party government. I therefore encourage investors to take advantage of the Urban Development Tax Incentive and partner with the City to restore our inner city to its former glory,”he said

Knott said residents of Johannesburg should expect to see various developments across the city as a result of this unprecedented success in investments. She said the investments will unlock Joburg’s true potential and further affirm its position as the economic hub of Africa.

‘‘We are committed to bringing real change to the people of Johannesburg. We are also saying Joburg is open for business. We encourage investors to remain in the city and take advantage of the many opportunities.’’