The new Vaal River City development has drawn investment from US bank, Citi.
Citigroup Inc. is teaming up with South Africa’s Gauteng provincial administration to fund almost R1.4 billion of investment in a new mega-city project and airport south of Johannesburg.
Gauteng, South Africa’s richest province, has identified five corridors or sites where it wants to boost economic development and create jobs, with the new city the first of the envisioned projects. At the time, the mixed-use development was punted as “South Africa’s first post-apartheid city” and was planned to house 400,000 square metres of commercial office space; 60,000 square metres of retail and leisure component; 20 hectares of park areas – including a bird sanctuary; and 5,000 residential units.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Johannesburg’s circus of 8 mayors in two-years deepens - The Africa Report.comSouthAfrica: The last 3 ‘opposition’ mayors of Johannesburg, Amad, Kunene, and Gwamanda, flatly deny rumours that they are fronts for the ANC and EFF leaders. Report by RMwareya
Read more »
South Africa: Former Mozambican Finance Minister Faces Extradition to U.S. After Failed South African Court BidSouth Africa's Constitutional Court has blocked an attempt by former Mozambican finance minister Manuel Chang to stop his extradition to the U.S. where he faces charges of grand corruption and the plundering of state resources relating to a U.S.$2 billion sovereign debt scandal, News24 reports.
Read more »
Virgin Active launching new app and rewards programme in South AfricaVirgin Active will launch a new member-centred app in South Africa in May.
Read more »
New Citroën C3 launches in South Africa – with a starting price that will surprise youNew Citroën C3 launches in South Africa - with a starting price that will surprise you
Read more »
In Morocco, KFC confirms its appetite for Africa - The Africa Report.comWith 10 new stores announced for 2023, American fast-food chain Kentucky Fried Chicken is on schedule for its expansion efforts throughout Morocco.
Read more »
Africa Day: 60 years of OAU, Africa still lacks integration and prosperityAs Africa Day commemorates the establishment of the Organisation for African Unity, now known as the African Union, modern-day Africa is still marred by economic strife, poor health and armed conflict.
Read more »