The City of Johannesburg’s Executive Mayor, Herman Mashaba, told the American Chamber of Commerce in South Africa that he wants direct United States investment in the city.
Mashaba told delegates that their investment will help grow the local economy and create jobs.
“This is the right time to invest in South Africa, in particular in Johannesburg,” he said.
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The chamber is affiliated to the United States Chamber of Commerce, the world’s largest business federation that represents almost three million businesses of every size and is based in Washington DC. Through the chamber, American and South Africa business people are able to come together and promote their mutual interests.
The delegation was led by US Consul General Michael A McCarthy and Stuart Clarkson, President of American Chamber of Commerce and managing director of Fidelity ADT on 19 October.
Clarkson told Mashaba that his organisation was committed to seizing the opportunities offered by the city.
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“The presence of American business in South Africa is an indication that we want to work with your administration. There is about 600 US companies operating in South Africa,” said Clarkson.
Clarkson said about 89 of these companies contribute about R270 billion to the South African economy. He also said an estimated 200 000 jobs have been created by American companies in South Africa.
Mashaba said Johannesburg has all the right ingredients to attract investment, adding a sense of security being created through improved public safety, transparent government, and enhancing financial sustainability.
“We need to run the municipality like a business, in order to deliver services better. The challenges we have in Johannesburg offer plenty of opportunities for business to invest.
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“The City of Johannesburg is facing challenges of 33, 2 per cent youth unemployment; high rates of poverty and inequality; severe safety concerns and inadequate police visibility.
“We have passed the total budget of R56 billion in 2017/2018 that will respond to the service delivery and the basics right.”
Clarkson said the chamber will continue to work with the City of Johannesburg. “We have commissioned a study to look at the business and investment opportunities within the City of Johannesburg.”
