City of Johannesburg and Finance Minister Agree on Plan to Improve City’s Finances
The City of Johannesburg and Finance Minister Enoch Godongwana have agreed on a plan aimed at addressing the metro’s financial challenges following a high level meeting on Tuesday.
Godongwana met with Johannesburg Mayor Dada Morero and members of the mayoral committee to discuss the city’s financial position after the National Treasury raised concerns about its deteriorating liquidity.
The meeting comes a month after the minister issued the City with a final notice indicating the government’s intention to reduce funding because of its worsening financial situation.
Morero said the City presented a transparent and comprehensive assessment of its finances during the discussions, outlining the challenges facing the municipality and the measures being implemented to restore financial stability.
Godongwana described the meeting as productive, saying both parties had agreed on a programme to improve the City’s financial health.
He said he would return in September to assess progress on the commitments made by the City’s leadership and senior management.
The minister expressed confidence that the agreed interventions would help place Johannesburg on a path towards financial recovery.