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Africa's Business Capital Is On the Brink of Financial Collapse
May 21, 2026
Bloomberg Business

Africa's Business Capital Is On the Brink of Financial Collapse

Johannesburg, Africa's business hub, is facing financial collapse. The city's art gallery is falling apart, and essential services like water and power are frequently cut. Armed gangs have taken over abandoned buildings. The finance minister warned the mayor that the city will lose funding unless it fixes "wasteful spending."