It is with deep regret that I cannot be here this evening because of the State funeral of the late Minister of Public Works being held in Lusikisiki.

Nevertheless, I observe all protocol and on behalf of Buffalo City, I wish to congratulate Pam Golding and our local entrepreneurs, Hanlie and Gwyn Bassingthwaight, on this landmark achievement.

It is not everyday that one experiences the thrill of a world renowned business showing such courage and confidence in our City through the investment of this showpiece property.

While we know this franchise forms part of a remarkable property stable which recorded a R12,9 billlion turnover last year and is but a single expression of the 176 branches in Southern Africa, it is exhilarating to know that this is our very own.

Despite being one of the smaller components of the South African Cities Network which comprises the nine largest cities in the country, we too know that the name Pam Golding is experiencing broader appeal in our burgeoning economy.

I understand the company's name is now borne by five black-run branches and it is moving away from the traditional property and asset classes to touch the lives of ordinary South Africans riding the wave of our property boom.

We salute Pam Golding and thank you for the show confidence in our City which we believe will soon ride the cusp of a development wave unmatched in our modern history.

Unfortunately at this stage I cannot divulge too much on this score because in two weeks time, I will be delivering my State of the City & Budget address in the City Hall.

I hope you all will join us for this event which marks the high water mark of the municipal calendar when we outline the future plans for the City and enable our investment partners to plan and position themselves to make Buffalo City a dream city in which to work, live and play.

Nevertheless, I would like to share some of the theoretical aspects of our City Development Strategy (CDS) which provides us a framework for economic growth, making the City sustainable and equitable through pro-poor policies, strategies and actions.

I know property classes usually feel uncomfortable about pro-poor policies but I ask you to engage with our strategies before you take any position. You will soon see the value because we too believe that a well functioning property market makes for distribution of wealth.

Recently I led a delegation on a sponsored five-city tour of study tour of Sweden to study the concept to see how we could adapt international best practice that enhances the role of the City as an engine for development in co-operation with all other stakeholders.

In Sweden we saw how cities are redefining their roles in a globalised economy in an information age. I watched in awe in Gothernburg, which is a port city like ours, the way the City shifted from its base economy lodged in shipbuilding.

The shipbuilding market collapsed with the oil crisis in 1975 and the City had to reengineer its economy based on its old competitive advantage. It was an eye opener to see that their port development problems and their connectivity through rail, road, air and sea is the same as ours.

The reengineering is being done through aspects of CDS, a strategy which has at its heart City-wide participation. We are about to appoint a consortium to role out CDS, the long-term strategy we believe is the answer to our constrained growth of the past.

You will no doubt be hearing about it a lot in the future and I want to take this opportunity to reach out to the business community to form meaningful partnerships with us so that we help the City to become the outstanding investment destination that it can be and a place we all can truly call home.

The municipality cannot do it alone. I know it is at gatherings such as this that our service delivery shortcomings come under the spotlight but I ask that you remember that the notion of municipalities as mere agents of basic delivery are no more.

We have an enlarged mandate that speaks to socio-economic development of our people in which the human index is measured, not mere buildings, roads and infrastructure.

Buffalo City's political and administrative leadership is developing a clear concept of how to achieve our growth and development vision as we prepare to engage our stakeholders.

We have engaged in strategic debate in crafting our budget to address the tensions between investment in subsidised services and productive investment in the economy.

In once again congratulating Pam Golding I want to reach out to business to engage in what we are doing because unless we engage productively, municipal efforts alone will not achieve the desired success.

I thank you.

ENDS.

Zintle Peter
EXECUTIVE MAYOR
16th May 2006.