Joburg says JSE bond suspension is ‘procedural’

By Thebe Mabanga

The City of Johannesburg has sought to play down the JSE’s suspension of its listed debt securities, describing the move as “procedural” and a “technical compliance matter” rather than a sign of financial distress.

The suspension follows the city’s failure to submit its annual reporting documents for the year ended 30 June 2025 within the required timeframes.

On Friday, the JSE announced that the city’s debt securities had been suspended from trading after it failed to publish its financial information timeously.

The exchange had already warned bondholders on 2 February that the city missed the seven-month deadline set out in the JSE’s Debt and Specialist Securities Listings Requirements.

It said at the time that suspension could follow if the documents were still outstanding by 28 February.

The city told bondholders on 29 January that its audited annual financial statements for the year ended 30 June 2025, the