‘It's a very difficult relationship in that we are an invested stakeholder, we're a cooperative partner. We like to collaborate with them, we like to try and add value, but the traction is as close to zero as it could possibly be,’ says Paul Jackson, CEO of Trust for Urban Housing Finance.
JEREMY MAGGS: The tragic fire in Marshalltown in Johannesburg that claimed 77 lives, as well as the earlier gas leaks in De Korte and Bree Streets, continue to raise concern over poor urban management, lack of law enforcement, and inadequate governance within the central business district.That assessment from Paul Jackson, he’s chief executive officer for Trust for Urban Housing Finance [TUHF], who’s with me now.
But it’s faltered simply because urban management has progressively gotten worse and worse, and taxation by local government knows no bounds. But it’s a long line of things like the xenophobic riots of 2019, 2020 where the whole of the southeastern part of Joburg was devastated and there was no reconstruction programme. There was no idea from city that this was a devastating event to that local economy. So it really is very, very difficult.PAUL JACKSON: Well, then the inner city will become a dormitory for the poor.
PAUL JACKSON: So we’re an invested stakeholder. We’ve invested over R5 billion in downtown Joburg over the last 20 years. We currently have a book in the greater Joburg area of over R2 billion, two entrepreneurs. We did a stakeholder analysis, and the analysis came out that the stakeholder that affects us the most is City of Joburg, and the one that we have the least influence with is the City of Joburg.
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