Cape Town is leading the pack in South Africa’s urban development scene with an ambitious plan to invest R39.7bn in infrastructure over the next three years, generating 130,000 job opportunities and addressing socioeconomic inequalities by allocating R9bn for the city’s lowerincome households. This investment is 80% larger than the next urban contender and a whopping 98% larger than eThekwini, the third largest. This model of sustainable urban development is setting the standard for other cities to follow.
In a recent city council address, Mayor Geordin HillLewis revealed that Cape Town has set a new record for infrastructure spending, with a whopping R6.94 billion invested during the 2022/23 financial year. This surpasses even the City’s investment during the FIFA World Cup, demonstrating its commitment to delivering on budgetary promises.
On May 31, 2023, the Cape Town City Council passed the ‘Building Hope’ Budget designed for the 2023/24 fiscal year. The budget team received commendations from Mayor Geordin HillLewis for striking an ideal balance between forward planning, addressing the city’s vulnerable residents’ immediate needs, and acknowledging ratepayers’ rising pressures.