Cape Town ‘bungling’ costs city investments

Staff Writer | May 28, 2019
The Cape Chamber of Commerce and Industry has said that the City of Cape Town is undermining investment and growth.

Investment worth more than R1 billion has been lost to Cape Town because of ‘municipal bungling’, according to the Cape Chamber of Commerce and Industry.

The chamber said in a statement: ‘Our city council is supposed to enable business and encourage good development but they have become a disabling force.’ 

It said bureaucratic delays and bungling had seen investment worth more than R1 billion being lost to the city. 

President of the Chamber Geoff Jacobs said: ‘Investments would have poured into Cape Town but we lost out because of municipal bungling.’ 

The City of Cape Town has been perceived as one of the best managed cities in South Africa. Its employment and income measures tend to outperform those of other metropolitan areas. Recent years have seen a significant flow of people and investment from the north of the country into the Cape metropolitan area.     

 

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