Interview with : Alexandre Barrière Izard, Chairman of the French association Entraide du Cap

What are Cape Town's major assets for the business community?

Alexandre Barrière Izard - Cape Town's first asset, which is common to all of South Africa, is its legal and financial stability. It's easy to set up a business and open a bank account. For an entrepreneur, there are a degree of security. Telecommunications are also of a high standard. These conditions are ideal for setting up a business, especially as the tertiary sector is predominant. Finally, life is good in Cape Town. Although the economic capital remains Johannesburg, Cape Town plays a very important role in certain high-tech sectors. For small businesses, it's ideal. Cape Town is something of a start-up nation.

How has insecurity, which remains a concern in South Africa, evolved?

A. B. I. - Safety is one of the issues. Cape Town is like a bubble, with most of the townships outside the city. In Cape Town, you can always walk or run along the promenade. There are difficulties, but the city remains largely liveable. Some districts, such as Observatory, were even disparaged a few years ago, but now everyone is investing in them.

Has the city also become more expensive?

A. B. I. - It's true that there was a sort of property bubble, which is now bursting as a result of the crisis. Cape Town is an ultra-touristy cityIt's also the city that normally hosts the most conventions on the African continent, and there was clearly a capacity problem for foreigners. But this is beginning to ease. I can tell you that the French are very good at renegotiating their rents, which can be as much as -50 % at the moment. Added to this is the fact that the rand has collapsed and life has become very cheap for foreigners paid in euros. The context presents good opportunities for expatriates.