Building from Scratch: New Cities,Privatized Urbanism and the Spatial Restructuring of Johannesburg after Apartheid

By the start of the twenty‐first century, the once dominant historical downtown core of Johannesburg had lost its privileged status as the center of business and commercial activities, the metropolitan landscape having been restructured into an assemblage of sprawling, rival edge cities. Real estate developers have recently unveiled ambitious plans to build two completely new cities from scratch: Waterfall City and Lanseria Airport City (formerly called Cradle City) are master‐planned, holistically designed ‘satellite cities’ built on vacant land. While incorporating features found in earlier city‐building efforts, these two new self‐contained, privately‐managed cities operate outside the administrative reach of public authority and thus exemplify the global trend toward privatized urbanism. Waterfall City, located on land that has been owned by the same extended family for nearly 100 years, is spearheaded by a single corporate entity. Lanseria Airport City/Cradle City is a planned ‘aerotropolis’ surrounding the existing Lanseria airport at the northwest corner of the Johannesburg metropole. These two new private cities differ from earlier large‐scale urban projects because everything from basic infrastructure (including utilities, sewerage, and the installation and maintenance of roadways), landscaping, security services, the regulation of common spaces, and selling and branding the city are firmly in the hands of private profit‐making corporate entities and outside the mandate of public authorities.     

Pricing practices in two industries

Although a critical part of marketing decision making, very little has been written about industrial pricing policy and strategy. This article has three objectives: First, to report the pricing practices of the chemical and construction industries; Second, to compare their pricing policies; and third, to develop a simple pricing framework for industrial marketers. The results of this study are interesting and somewhat unexpected. The buyer and his behavior only play a small part in pricing policy. A pricing framework or model is presented in a logical and systematic way.     

Co‐evolved genetic programs for stock market trading

The profitability of trading rules evolved by three different optimised genetic programs, namely a single population genetic program (GP), a co‐operative co‐evolved GP, and a competitive co‐evolved GP is compared. Profitability is determined by trading thirteen listed shares on the Johannesburg Stock Exchange (JSE) over a period of April 2003 to June 2008. An empirical study presented here shows that GPs can generate profitable trading rules across a variety of industries and market conditions. The results show that the co‐operative co‐evolved GP generates trading rules perform significantly worse than a single population GP and a competitively co‐evolved GP. The results also show that a competitive co‐evolved GP and the single population GP produce similar trading rules. The profits returned by the evolved trading rules are compared to the profit returned by the buy‐and‐hold trading strategy. The evolved trading rules significantly outperform the buy‐and‐hold strategy when the market trends downwards. No significant difference is identified among the buy‐and‐hold strategy, the competitive co‐evolved GP, and single population GP when the market trends upwards.     

The Economic Value of Time: Evidence from Africa

When excessive and inefficiently implemented, government interventions can result in significant economic losses for citizens. These include the often‐significant cost of lost time. This paper thus aims to estimate the potential economic welfare benefit of reducing public office waiting times. Based on data from Johannesburg, Lagos and Addis Ababa, we show that a one‐hour reduction in waiting time improves welfare by 66‐74% of the average local wage. High‐income earners, college graduates and private‐sector employees enjoy higher gains. Moreover, we note that the proxies currently used to quantify time‐saving benefits diverge significantly from the rate at which individuals substitute time for money. Our analysis also indicated a substantial delay‐induced citywide efficiency loss. Introducing public–private partnership and charging premium fees for faster service delivery are justifiable both on grounds of equity and efficiency.     

Aspects of environmental quality of life that affect neighbourhood satisfaction in disadvantaged and advantaged Johannesburg communities

To ascertain which aspects of environmental quality of life affect neighbourhood satisfaction, a study was conducted with 303 tenure allocated residents of an informal settlement in Soweto, 160 residents of a squatter camp in the same informal settlement, and 375 black and 358 white residents of a middle-class Johannesburg suburb. Respondents rated their satisfaction with housing, public schools, public clinics, public transport, roads, personal safety, street lighting, household refuse removal, jobs, local government and the neighbourhood. Black suburbanites tended to be more satisfied than the other three groups with most of these aspects. Stepwise multiple regression analyses revealed that housing and personal safety accounted for 45 per cent (informal settlement), 21 per cent (squatter camp), 33 per cent (black suburbanites), and 28 per cent (white suburbanites) of the variance in neighbourhood satisfaction. The findings substantiated the importance of housing and personal safety in both disadvantaged and advantaged communities.     

Basel III liquidity rules: The implications for bank lending growth in Africa

This paper examines the possible loan growth effect of the Basel III NSFR and LCR requirements in Africa and seeks to determine whether the different regions of the continent are affected differently. The paper also offers what is possibly the first investigation of how the interaction between the performance of loan portfolios and the new Basel III liquidity requirements might shape bank loan growth rates. Using a dataset of 361 commercial banks across 38 African countries over the 2005–2015 period, our static and dynamic panel analyses show that both the NSFR and the LCR exert significant positive effects on bank loan growth rates. The results also reveal that the NSFR reduces the impact of the negative effect of poor performance of loan portfolios on bank loan growth rates. Compliance with the Basel III liquidity rules in Africa is therefore likely to have beneficial impacts on policies intended to increase bank lending in the continent.     

Community Leadership and the Construction of Political Legitimacy: Unpacking Bourdieu's ‘Political Capital’ in Post‐Apartheid Johannesburg

Apart from local monographs and normative texts on community participation, research on community leadership constitutes a blind spot in urban leadership, urban politics, social movements and urban studies. This article, based on case studies in post‐apartheid Johannesburg, contributes to theorizing community leadership, or informal local political leadership, by exploring Bourdieu's concepts of ‘political capital’ and ‘double dealings’. Considering community leaders as brokers between local residents and various institutions (in South Africa, the state and the party), we examine how leaders construct their political legitimacy, both towards ‘the bottom’ (building and maintaining their constituencies), and towards ‘the top’ (seeking and sustaining recognition from fractions of the party and the state). These legitimation processes are often in tension, pulling community leaders in contradictory directions, usefully understood under Bourdieu's concept of ‘double dealings’. Community leaders are required, more than formally elected political leaders, to constantly reassert their legitimacy in multiple local public arenas due to the informal nature of their mandate and the high level of political competition between them — with destructive consequences for local polity but also the potential for increased accountability to their followers. We finally reflect on the relevance of this theoretical framework, inspired by Bourdieu, beyond South African urban politics.     

Inequity in poverty: the emerging public health challenge in Johannesburg

In 2005, in recognition of the role of social factors in increasing health inequities, the World Health Organisation established the Commission on the Social Determinants of Health. South Africa is among the most unequal societies in the world. It faces serious public health challenges, including an elevated burden of chronic disease, and high levels of violence. This paper presents data from a cross-sectional study of socio-economic and health status conducted in five Johannesburg housing settlements in 2006. The findings paint a picture of health inequities across and within the study sites, and socio-environmental conditions that undermine the prospects of protecting and promoting health. The authors suggest the need for a new approach to public health in areas of urban impoverishment in Johannesburg and elsewhere.