The New Cold War: Geopolitical Competition Heating Up in Africa
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Once a notorious site of crime and decay, Ponte Tower in Johannesburg is experiencing a resurgence following years of urban decline. Built in 1975, the building, which stands nearly 200 meters tall, was taken over by criminal gangs in the 1980s, resulting in its hollow core filling with trash. "The building got hijacked... it was just horrible, just really like, hell on earth," said Delight Sithole, who manages tours of the revitalized site.
Since the 2010 FIFA World Cup, the tower has seen a gradual transformation, currently boasting around 75% occupancy after a post-COVID bounce. Alan Tait, a senior manager at property firm Ithemba, noted a "phenomenal" demand for urban living in the Central Business District. Initiatives like JoziMyJozi aim to improve urban conditions, enhancing safety and infrastructure in the area.
In line with these revitalization efforts, Johannesburg is set to host the G20 summit later this year, which is expected to attract further investment and attention. "We need to get up there and be the gold standard for cities in Africa," said Bea Swanepoel, CEO of JoziMyJozi.