CoJ Council denies R2bn loan application, again

By City of Joburg Media

Today, 23 November 2022, the City of Johannesburg (CoJ) Council did not approve the loan application tabled for the second time with 137 Councillors rejecting the application and 130 Councillors in favour of it. 
In a media conference held before Council, the Executive Mayor, Dr Mpho Phalatse, and MMC of Finance, Cllr Julie Suddaby, reiterated how important it is for the City, its residents and sustained service delivery that this loan is approved. 
It is also not the first time the City of Johannesburg has taken advantage of a short-term loan to bridge a cash flow mismatch. Despite clear explanations to questions asked and the report being the very same one that the October Government had signed and would have approved, opposition Councillors did not put service delivery ahead of their political aspirations. 
MMC Julie Suddaby said, "The no-vote for a second time disappointed me, it is short-sighted, especially since the MPG had clearly shown it was a normal business decision to assist the City's cash flow at this time. 
This action confirms that the ANC and the minority party coalition don't have the residents and businesses of Joburg at the centre of their decision making. It is not the residents of the City that the opposition seats served in Council today." 
Sinovuyo Mpakama, acting GFCO for the City, said, "We are aware that there is huge concern about salaries, and I would like to assure the staff that salaries for November and December are covered despite the no-vote." 

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