South Africa: Is the City of Johannesburg Broke? – South African News Briefs – January 29, 2023
[ad_1] Is the City of Johannesburg Broke? The City of Johannesburg is facing financial turmoil, marked by allegations of non-payment, budget "rebase," and threats to cut off electricity, reports News24. A leaked memo revealed a proposed budget adjustment of R8.7 billion for the 2023/24 fiscal year, and the city's revenue collection fell significantly below the norm at 75%. The centralization of billing, as per a leaked document from City Power, has purportedly led to poor performance, debt, and low […]