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According to OP's article construction was supposed to start in 2012 and finish in 2018. So that's 2 years behind schedule.
Well here's some recent new on this, so it doesn't sound quite dead to me:
http://www.iolproperty.co.za/roller/news/entry/comments_sought_on_centurion_lake
Trust me, this is just people wasting time.
No private investor will sink the required money into this project, its not worth their while, and the municipality does not have the funds to even think about doing a project like this.
Just this week, Ethiopia announced its entry in the race to the top. “Ethiopia’s capital city, Addis Ababa, may boast Africa’s tallest building by 2017,” announced the Ethiopian Radio and Television Agency, somewhat breathlessly. Although no plans or sketches have been released yet, plans for the 99-storey building – to be built by a Chinese corporation – have apparently already been approved, and the necessary land acquired.
Ghana too is getting involved. Hope City, launched by President John Mahama in March, is supposed to be a $10-billion tech hub just outside Accra, the centrepiece of which will be a 75-storey, 270-metre-high tower surrounded by five other not-quite-as-tall skyscrapers (the unusual cluster design is supposed to channel the spirit of traditional Ghanaian compound huts).
Well you never know, our "competition" for highest building in Africa is in Ethiopia of all places, and guess who's building their tower? China .