The DA’s Johannesburg caucus leader, Belinda Kayser-Echeozonjoku, has rejected finance head Dada Morero’s remarks that the city remains financially resilient despite the recent credit rating downgrade, saying its implications could not be underestimated.

“A city with an infrastructure backlog in the hundreds of millions, will undoubtedly require loans to ensure continued service delivery. The downgrade means that it becomes very difficult for the city to get and repay loans. The current executive has, in all practical senses, made another funding model for the metro more difficult to come by,” Kayser-Echeozonjoku said...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.