{"id":40620,"date":"2022-11-23T20:10:34","date_gmt":"2022-11-23T20:10:34","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/proposed-r2bn-development-bank-loan-again-denied-in-joburg-council"},"modified":"2022-11-23T20:40:21","modified_gmt":"2022-11-23T20:40:21","slug":"proposed-r2bn-development-bank-loan-again-denied-in-joburg-council","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/proposed-r2bn-development-bank-loan-again-denied-in-joburg-council","title":{"rendered":"Proposed R2bn development bank loan again denied in Joburg council"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>A motion to access a R2 billion loan to keep the City of Johannesburg running has been denied.<\/p>\n

In a show of hands, councillors voted against the short-term loan from the Development Bank of Southern Africa, with 137 voting against the motion and 130 for it.<\/p>\n

This is the second time the motion has gone to a vote in the council.<\/p>\n

According to the City, it had secured access to R2 billion but required approval for the application.<\/p>\n

On 11 November at the 12th extraordinary council sitting, councillors voted against the DA-led government’s request for the loan.<\/p>\n

The loan is meant to go towards operational costs and will be paid back in June 2023.<\/p>\n

The reasons for opposing the motion were the same on Wednesday as they were two weeks ago.<\/p>\n

Opposition parties said because Executive Mayor Mpho Phalatse insisted the City was not bankrupt and the finances were “fine”, there was no need for the loan.<\/p>\n

Adolf Marema from the ANC referred to a press briefing by the mayor and Finance MMC Julie Suddaby before the council.<\/p>\n

“Just before the council, you had a briefing saying all [is] fine. Are you fine, mayor, are you okay? Will SMMEs be paid?<\/p>\n

“If you are fine – you don’t need this loan. Will we see the metro cars being driven back to depot?”<\/p>\n

Marema commented on vehicles from Avis Fleet, which were taken back after its lease lapsed on 31 October.<\/p>\n

Opposition parties told the media Avis took the 47 vehicles because of a lack of payment.<\/p>\n

Before the vote, Suddaby responded to the opposition, assuring councillors all municipal staff would be paid and the payment included performance bonuses.<\/p>\n

“All unavoidable costs will be paid in full and on time.<\/p>\n

“We are one of few municipalities in the country that does not owe Eskom or Rand Water.<\/p>\n

“Vehicles were returned to Avis because the contract expired.”<\/p>\n

Speaking on the low revenue collection, Suddaby said there was an apparent cash flow mismatch.<\/p>\n

“I had not heard a single argument why, if the decision was right on 27 October [when the motion for approval was tabled for council], it should not still be right on 23 November. Unless it has nothing to do with [doing what’s] right.”<\/p>\n

The council is still in session.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. A motion to access a R2 billion loan to keep the City of Johannesburg running has been denied. In a show of hands, councillors voted against the short-term loan from the Development Bank of Southern Africa, with 137 voting against the motion and 130 for it. This is the second time the […]<\/p>\n","protected":false},"author":84,"featured_media":40619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[274,315,309,310,288,275],"class_list":["post-40620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-gauteng","tag-johannesburg","tag-politics","tag-south-africa-2"],"yoast_head":"\nProposed R2bn development bank loan again denied in Joburg council - South Africa<\/title>\n<meta name=\"description\" content=\"A motion to access a R2 billion loan to keep the City of Johannesburg running has been denied. 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