JOBURG. R200 BILLION. 5 YEARS.
Inside the Conversation Shaping the City’s Future with Helen Zille.
Johannesburg is a city that defies prediction. It breaks, it rebuilds, it breaks again, and then somehow – with the stubbornness only Joburgers truly understand – it finds a way to move forward.
Investors who know the city deeply don’t bet on its perfection; they bet on its potential. And if there is one theme that emerged from Helen Zille’s recent conversation with John Jack, Galetti CEO, it’s that Johannesburg’s potential is nowhere near exhausted.
Johannesburg’s Potential Has Never Disappeared
One of the most revealing themes from our conversation with Helen Zille was the scale of capital that remains on standby. As mentioned in the discussion, South African businesses are sitting on roughly R2 trillion in dormant capital – capital that isn’t flowing into the economy because sentiment is cautious.
That figure tells an important story: Investors haven’t lost interest. They’re simply waiting for the environment to stabilise.
For Johannesburg, this represents a unique opportunity. The moment the city becomes reliably investable again, a significant portion of that capital – local and international – is likely to flow back into its commercial precincts, business nodes, developments and infrastructure.
Joburg has proven, time and again, that when basic systems work, investment follows.
What Residents and Businesses Actually Want
For all the complexity around city governance, infrastructure, and budgets, the real expectations of Joburgers are remarkably consistent across communities, income levels and business sectors.
People want:
Water they can trust.
Electricity they can rely on.
Roads they can drive on.
Public spaces that feel safe.
A city where business doesn’t come with operational volatility.
These needs aren’t ideological – they are universal. And they also form the baseline for a functional property market. When the basics work, tenants stabilise, precincts attract investment, and assets appreciate.
Whether the commentary comes from industry leaders, political figures, neighbourhood forums, or the business sector, the message is the same: a working Johannesburg unlocks everything else.
Small Wins That Change the City’s Trajectory
Big recovery doesn’t always start with big projects. Sometimes it starts with the highly visible, highly practical issues that shape daily experience. In Cape Town years ago, something as simple as painting road markings changed public confidence.
Johannesburg’s equivalents are clear:
Fix the high-risk potholes.
Switch on the traffic lights.
Cut the verges.
Enforce the bylaws that keep shared spaces orderly.
Clean up the business nodes where commercial life happens.
These aren’t cosmetic tweaks – they are psychological turning points. The moment people see change, they begin to believe change is possible. And when sentiment improves, investors respond.
The Billing System: Johannesburg’s Silent Stability Risk
Anyone who owns or manages property in the city understands the operational strain of incorrect municipal charges or months-long disputes.
It’s not glamorous, but a reliable billing system is the backbone of a functional city. You cannot plan infrastructure, maintenance, or long-term investment without accurate revenue collection.
Modern billing systems – trackable, auditable, secure – exist. Implementing them is a governance challenge, not a technological one. And every industry stakeholder, from property funds to small businesses, understands how significant this reform would be for Joburg’s stability.
Joburg’s Greatest Advantage: Its People
Perhaps the most powerful idea was the recognition that Johannesburg’s resilience comes from its people – entrepreneurs, neighbourhood associations, business owners, precinct managers, brokers, investors, and everyday residents who refuse to let the city slide.
Zille described it as “social capital,” but anyone who has lived or invested in Johannesburg knows the feeling instinctively: when something breaks, someone steps in. Improvement districts get organised. Businesses collaborate. Communities fill the gaps.
Unlike cities where government efficiency creates comfort, Johannesburg’s adversity has created capability – a culture of action that becomes a force multiplier once the city starts stabilising.
This grassroots resilience is one of Joburg’s biggest economic assets.
The Message Is Bigger Than the Conversation
Perhaps the most important takeaway was this line:
“Don’t believe in me. Believe in Joburg.”
— Helen Zille
Not as a political statement, but as a reminder that Johannesburg’s future does not hinge on one person, one party, or one election cycle. It depends on collective belief, collective pressure, and collective participation – from the public sector, private sector, and every community in between.
As commercial real estate professionals, investors, and business leaders, our interest is in a Johannesburg that works – because a working Johannesburg drives growth, stabilises property markets, enables job creation, and unlocks value across the entire region.
Joburg’s comeback won’t be created by optimism alone. It will come from momentum, accountability, and partnership across sectors and ideologies.
And right now, that momentum is building.
