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Cape Town is actually situated near a cape, known as the Cape of Good Hope, which is located at the southern tip of the Cape Peninsula. The Cape of Good Hope was historically significant as a navigational landmark for sailors traveling between the Atlantic and Indian Oceans.

Cape Town itself was originally established as a supply station by the Dutch East India Company in the 17th century. The city grew around the Cape Peninsula and was named "Kaapstad" by the Dutch settlers, which translates to "Cape Town" in English. The name refers to its location near the Cape of Good Hope and the fact that it served as a town near the cape.

So while Cape Town is not specifically located on the Cape of Good Hope itself, its name reflects its historical connection and proximity to this significant geographical landmark at the tip of the Cape Peninsula.

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