Morero appoints Loyiso Masuku as Joburg Finance MMC to boost fiscal discipline

By Thapelo Molefe

The City of Johannesburg has appointed ANC regional deputy secretary Loyiso Masuku as its new Member of the Mayoral Committee (MMC) for Finance.

Joburg mayor Dada Morero announced the move as part of changes to strengthen the city’s governance, following the election of former finance MMC Margaret Arnolds as Speaker of Council.

Masuku will now oversee the city’s financial governance, fiscal discipline, and revenue collection efforts.

Masuku’s appointment comes at a critical for Joburg as the City’s finances are in freefall and service delivery is grinding to a halt.

Morero has been asked to explain how South Africa’s wealthiest city plans to recoup R24.4 billion ($1.4 billion) lost to “unauthorised, irregular, fruitless, and wasteful expenditure.”

Last month, Finance Minister Enoch Godongwana gave Morero 14 days to outline his plan for stabilising the city’s finances, according to a letter dated July 30 seen by Bloomberg.

Failure to comply