City of Joburg's finances are healthy‚ says finance MMC

The City of Johannesburg has denied claims that the metro is facing extreme financial woes under its new leadership.

The ANC and former Johannesburg Mayor Parks Tau accused the DA of mishandling of funds in the municipality.

Tau reportedly held a meeting with Finance Minister Malusi Gigaba over his concerns that the City is broke.

City of Joburg's current MMC for Finance, Dr Rabelani Dagada says the current administration has so far collected R1 billion more that the ANC administration.

We've been able to substantially, by at least R1 billion, reduce the deficit in terms of revenue collection.

Dr Rabelani Dagada, City of Johannesburg MMC for Finance

Dagada denied claims by the ANC that the budget has been 'inflated' by R1 billion.

Former MMC for Finance Geoffrey Makhubo says that the City of Joburg's financial situation requires them to act.

He says the financial situation has worsened under the new municipal administration.

According to Makhubo, City Power is in financial ruin and made a half a billion rand lost in the last financial year.

Our largest cash generator, City Power is in financial ruin and operation on over draft... That point to us that the City is in serious financial trouble.

Geoffrey Makhubo, former MMC for Finance at the City of Joburg

Unless austerity measures are taken, our City is going down the drain.

Geoffrey Makhubo, former MMC for Finance at the City of Joburg

The ANC has called for National Treasury to intervene, but Dagada says it's unlikely to happen.

Take a listen to the former MMC for Finance:

Take a listen to the current MMC for Finance:


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by NEWSROOM AI

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