Overview

JOBURG is the economic powerhouse of South Africa - and of the entire region. As such, its economic growth and development has knock-on effects across sub-Saharan Africa.

In 2002 the City of Johannesburg launched a long-term economic strategy called Joburg 2030; the aim was to turn Johannesburg into a world-class African city by 2030.

While relevant to dealing with Joburg’s economic needs, the strategy also encompassed other initiatives, such as a pro-poor approach to policy and a desire to share the proceeds of economic growth through initiatives like broad-based black economic empowerment.

Then, in 2006, the City unveiled its Growth and Development Strategy; it includes all the original tenants of Joburg 2030 as well as a new growth and development paradigm.

The new strategy is to have a city economy that plays a role as the key economic hub on the continent and as the national economic growth leader, by ensuring sustainable, shared growth that benefits all.

The City’s department of economic development plays a major role in ensuring that Joburg’s strategic plans are implemented, using sector-focused economic projects to stimulate the local economy through support, facilitation, intervention and innovation.

It interacts closely and regularly with other City departments and municipal entities regarding economic development initiatives. While the department is responsible for the overall co-ordination and strategic direction of economic development in the City, the other key role players are the four entities that fall under it.

These are Johannesburg Metropolitan Trading Company (MTC), Johannesburg Tourism Company (JTC),  City of Joburg Property Company (JPC) and Johannesburg Fresh Produce Market (JFPM). Other role players include national and provincial government departments, and organised business.

Joburg plans to invest R50-million to support specific sectors that are deemed critical and catalytic to economic growth in the 2007-08 financial year, including the City’s Broadband Network, an SMME (small, medium and micro enterprise) Fund (a R500-million enabling fund) and the Soweto Empowerment Zone.