Shacks, shebeens and securitization

Originally established under the white minority regime to compulsorily house non-white labour outside the cities, South Africa’s townships are now obvious targets for a nascent low-income housing finance market.

With so much natural beauty around it, Cape Town can be an anticlimax for a first-time visitor. For the international business traveller spending most of his time in the central business district, the mix of colonial and contemporary buildings is agreeable but familiar. Architecturally, there is little to distinguish the city from dozens of others from Perth to Pennsylvania where the Dutch and then the British arrived to trade and settle. From street level, even South Africa’s most recognizable landmark, Table Mountain, blends in with the corporate skyline, its flat top forming precise right angles with the skyscrapers.

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