By Thapelo Molefe
Democratic Alliance (DA) Johannesburg mayoral candidate Helen Zille says a damning letter from Finance Minister Enoch Godongwana confirms the City of Johannesburg is in deep financial distress, warning the metro is effectively “bankrupt” and unable to sustain basic services.
Briefing the media on Wednesday, Zille described the letter sent to executive mayor Dada Morero as “unprecedented” in its bluntness, saying it details unlawful financial decisions that have pushed the city to the brink.
“In all my years in politics I haven’t read a letter quite so forthright and quite so blunt,” Zille said.
“What the minister is saying is that Joburg is bankrupt.”
According to the letter, the city owes creditors R25.2 billion while holding only R3.9 billion in cash and cash equivalents, leaving a shortfall of more than R21 billion.
“This is a marker of severe financial distress, indicating that the city does not have the
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Start your free trial today.
Start your FREE trial nowNeed help? sibandzetk88@gmail.com
