🗳️'Saying the City is broke is a political power play at best' - Joburg Mayor Mpho Phalatse justifies applying for a R2 billion load. Read the full story here: CityofJoburg MphoPhalatse
Phalatse explained that revenue collections, grants and subsidies as well as loans were the sources of the City’s funding, which is then used for service delivery and building projects.
“The decrease in revenue collection can be attributed to the economic effects of Covid-19, the massive increases in food and fuel prices due to, among others, the war in Ukraine and the sudden increase in interest rates and inflation since June 2022 creating a downward pressure on the revenue collection efforts of the City.”
For August and September, revenue collection stood to R4.5 billion and R4.2 billion respectively , but then dropped in October following her removal from office.“Revenue collection fell to 86% translating into over half a billion of under collection. We all know what happened in the month of October in the City of Joburg,” Phalatse said.
Phalatse also revealed that even ANC Joburg chair, Dada Morero, initiated the loan during his brief time in office.
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