A view of Cape Town from the Table Mountain. Picture: freeimages.com
CAPE TOWN – Deputy Cape Town Mayor Ian Neilson, says the city business district is a safe and productive place for doing business, and with the financial sector strongly based in the mother city, thousands of jobs are being created.
The deputy mayor was speaking at the launch of the Tsogo Sun Hotel development in the city centre.
Neilson says the argument that the private sector in South Africa is the hub of white monopoly capital is an outdated concept because in the last 20 years, significant transformation has taken place.
He says Cape Town has a functioning CBD and wishes Johannesburg mayor Herman Mashaba well in turning it around.
“We can’t sit back and rest, we have to assume that those cities will get their acts together and become great competitors to us.”
Tsogo Sun’s CEO Marcel von Aulock says the narrative of white monopoly capital is untrue and as the biggest hotel owners in the city, they are owned largely by pension funds and the South African clothing and textile union.
“Our job is to keep growing the business.”
Von Aulock says one of the challenges is the growing population which is greater than the country’s economic growth rate.
Eye Witness News