Mashaba appeals to Treasury for strict oversight amid Joburg liquidity crisis
About this episode
Herman Mashaba appeals to the Treasury for oversight amid a liquidity crisis in Johannesburg.
Mashaba appeals to Treasury for strict oversight amid Joburg liquidity crisis ActionSA leader and the party's Johannesburg mayoral candidate Herman Mashaba has formally requested the intervention of Minister of Finance Enoch Godongwana to oversee and monitor National Treasury funds bound for the cash-strapped City of Johannesburg. In a letter sent on Monday, Mashaba recommended the immediate deployment of a technical support team to track the implementation and usage of any funds transferred to the municipality. The move comes as the city faces a liquidity crisis, reportedly operating with a mere nine days of cash reserves left in its coffers. The city is currently relying heavily on the reinstatement of its R3.6-billion equitable share allocation to remain operational. National Treasury withheld the allocation earlier this month, citing the city's persistent failure to adhere to fiscal discipline alongside escalating rates of unauthorised, wasteful, and irregular expenditure. In his correspondence, Mashaba questioned whether the City of Johannesburg has submitted a satisfactory financial recovery plan before the frozen funds are released. He further requested clarity on the…
More episodes of Polity Audio Articles
- Trade conditions remained tight in June – Sacci
- Treasury confirms signing of govt’s $1.5bn development policy loan with World Bank
- Holomisa calls for practical partnership plan to transform SANDF infrastructure
- World Bank facility extended to support water, sanitation sector reforms in South Africa
- South Africa's financial resilience built up by fiscal reforms; broader reforms must continue – BLSA
- MKP wants NDPP to suspend IDAC head over interference allegations
Explore listener stats, chart rankings, contacts and more on the Polity Audio Articles podcast page.