Johannesburg Council approves R2.5 billion FDA loan

The Johannesburg City Council has approved the loan request with the French Development Agency (FDA) for R 2.5 billion for the 2023/2024 financial year.

The majority of political parties voted in favour of the loan, including ActionSA and the Economic Freedom Fighters (EFF), while the Freedom Front Plus (FF+) voted against it.

Member of the Mayoral Committee for Finance in the City of Johannesburg, Dada Morero, says they will embark on an aggressive revenue collection campaign to ensure that the City is able to fund its projects.

Morero was speaking during an extraordinary council meeting at the City’s Constance Bapela Council Chambers in Johannesburg this morning.

He says financial decisions are made with complete and accurate information.

“We as councillors, we are as the City and the Executive today going to embark on an aggressive revenue collection process in an attempt to increase our collection rate, move from 86% to the 90% target, which will then ensure that this city is able to fund its capex projects and be able to support its opex expenditure.”

“We are therefore making a call to the residents of Johannesburg to also play their part in ensuring that they pay for the services that are consumed on a daily basis,” adds Morero.

VIDEO | Interview with Morero on the Johannesburg City Council approving the loan: