Johannesburg, Africa’s richest city, requires $12 billion for essential maintenance and overdue upgrades across its failing road, power, and water networks. This shortfall, discussed by the city council and detailed in documents seen by Bloomberg, occurs amidst regular power outages caused by distribution-network breakdowns, long-neglected potholes, and water shortages that lasted up to 11 days in March. According to the city council, the infrastructure issues pose significant risks to public safety, economic stability, and the environment due to worsening roads, unsafe bridges, and flooding. Johannesburg’s issues have been exacerbated by financial and political turmoil, with the city led by eight mayors since 2019. It remains to be seen how the city will resolve its infrastructure issues, especially since it struggles with revenue collection from large customers, including government departments and companies.
SOURCE: BLOOMBERG
Africa’s Financial Hub has a $12 Billion Infrastructure Gap
