Joburg faces financial crisis amid R3.8bn City Power loan
The City of Johannesburg is facing mounting financial pressure with an unfunded R2.1 billion budget gap, shrinking cash reserves and growing debt to state utilities. Amid the crisis, the city has secured a R3.8 billion loan from German development bank KfW to revive struggling electricity utility City Power. DA’s Belinda Kayser-Echeozonjoku has more. Follow us on our new Facebook page: https://tinyurl.com/2p9m6y52 #Newzroom405 Tune into Newzroom Afrika DStv channel 405 for more.
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