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The graffitti is on the wall for busines... SA's leaders must set the standard for ... Spandex is okay, but what about democrac... |
The graffitti is on the wall for business in Jo'burg's CBDNOW that the Johannesburg Stock Exchange has finally decided enough is enough and has moved out of the Johannesburg CBD, perhaps it is time to admit that Johannesburg has outlived it's usefulness as SA's business capital and should be put to some other use. Part of the JSE's problem was that it relocated to what was already a seedy neighbourhood years ago, no doubt hoping that its presence would encourage others to move downtown and give the Diagonal Street area a much-needed boost. Unfortunately this never happened. The close proximity to the bus terminus and the appalling traffic access in the area made it an unattractive proposition for new corporate offices. When street hawkers took over the pavements surrounding the JSE, it became clear that the writing was on the wall. Even the Reserve Bank's decision to build its new Johannesburg headquarters nearby and the sprawling development of First National Bank's bank city complex did little more than offer a stay of execution. Apart from complaints about crime and grime and the general unpleasantness of the city, one of the principal objections to remaining was that it became increasingly difficult to attract quality staff unless you could guarantee safe parking for them. The result is that most of the people who work in Johannesburg these days drive into the basement parking of their smart new buildings and never dare venture out of their offices again. Companies now provide canteens and gyms to keep staff amused during their lunch breaks before the security gates roll open in the evening to allow them to take their chances in the evening traffic. One company, I am told, has even had bullet-proof glass fitted to its executive's company cars. The only advantage to working in the Johannesburg CBD these days is that the mass exodus from the city has greatly eased the traffic flow, making it much easier to dodge the crossfire from rival taxi gangs. The days when one could safely take a pleasant lunchtime stroll in central Johannesburg are long gone. These days, a walk along Fox Street from the Carlton Centre is rather like being dropped onto the set of Blade Runner. Buildings are boarded up and ragged figures scurry in and out of holes that have been knocked into the walls of derelict buildings, giving access to dusty basements which have become home for people living on the streets. There is an argument that the abundance of empty office space in the CBD will cause rentals to fall and therefore attract tenants back into the city. I am afraid this is no more than a pipe-dream. While a rental of R10 a square metre may look very attractive compared with rentals in the northern suburbs, one has to take into account that, thanks to years of mismanagement and neglect, the CBD is no longer a fashionable business address. Why move there when you can rent modern offices further north in Rosebank or Sandton with good access to a variety of restaurants and where your staff can shop safely during the day? Even militant unions no longer bother to march through the CBD because they know it will no longer inconvenience anybody. Or perhaps they also don't think it's safe anymore! We have heard so many empty promises about imminent billion-rand investments to rejuvenate the CBD over the years that we have every right to be cynical about its future as a business centre. Instead of pretending, as we have for some time, that this is a temporary problem and that Johannesburg will ultimately rise from the ashes, we should officially declare Sandton the new business capital of SA and set about finding another use for what remains of the city. Instead of relying on a stop-start building programme for new housing, a deal should be negotiated whereby Johannesburg's empty office blocks could be converted to accommodation, hospitals and even prisons. Surely this would be a better deal for the landlords than biting their nails and hanging on to thousands of square metres of unlettable office space?
Watching Sky TV's coverage of Dr Ali Bacher's negotiations to bring the West Indian cricket team to SA, it became apparent that the final part of the talks took place in the departure lounge at Heathrow. This means that the Windies team had already checked their baggage through and were presumably just waiting for the right cash amount to be mentioned before boarding the aircraft. Top of page
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