5 days away from disaster

[BusinessTech]

5 days away from disaster

The City of Johannesburg's cash coverage has slipped to around 5 days—and declining—against the National Treasury's norm of one to three months.

 

[Jam Sandwich]

 

[ISP cash cow]

In the document’s summary of the city’s financial position, it laid bare the realities facing South Africa’s richest city—including a R2.1 billion unfunded gap in its budget flagged by Treasury for 2026/27.

Could you stop calling us the Richest city, we are broke because of Government.

We going to have our begging bowls out to the other major cities soon

 

[Bad Ballie]

Needs more ANC leadership, and racist BBEEE policies, that will fix it.

 

[konfab]

My current conspiracy theory regarding Johannesburg is this:
Legally speaking the province should have already put it under administration for passing that budget, even the finance minister is getting involved . But since the Gauteng ANC controls both the city and province, they haven't done it. This is to hedge their bets against Zille taking control of Johannesburg, because if she gets a majority, you can bet the Lesufi's lot will do exactly what they did in Pretoria.


https://www.news24.com/southafrica/...-placed-tshwane-under-administration-20211004