Cash-strapped Joburg metro will approve R2bn short-term loan, says new mayor
In 2022, the then-minority parties rejected a move to approve the DBSA loan, a move seemingly aimed at plunging the metro into more financial trouble so the ANC could take back control
30 January 2023 - 16:38
The cash-strapped City of Johannesburg will soon approve a R2bn loan facility from the Development Bank of Southern Africa (DBSA), which it previously rejected during DA councillor Mpho Phalatse’s tenure as executive mayor.
Al Jama-ah councillor Thapelo Amad, who was on Monday sworn in as first citizen of Joburg, said: “We are inheriting a city under massive financial strain. The stabilisation of the city’s finances is to be prioritised.” He said his administration would place “great emphasis” on its administrative organs to collect what’s due to the city for it to meet its service delivery objectives...
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