A 'world-class' African city? Joburg's GCR credit rating falls to negative | The Citizen

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GCRRatingsAgency has given the Joburg metro a negative credit rating, downgrading the 'world-class African city' from its 'stable' outlook. Read more on TheCitizenBusiness ⬇️

metro’s performance has “worsened” over the past financial year, “on the back of persistent service delivery backlogs, load shedding and political dysfunction”.he’s “not surprised” by the negative rating.

The economist said failure of ratepayers to make payment is not always due to non-affordability, but “a sense of entitlement.” “Some of the biggest hotels and institutions were among the list of ratepayers owing the municipality,” Dumisa said.‘We’ll have no city to run’: Speaker warns City of Joburg could be placed under admnistrationWhen it comes to non-payment as a form or protest against corruption, Dumisa said ratepayers shouldn’t use corruption and poor service delivery as an excuse.“Corruption is a factor, but it shouldn’t be an excuse,” he added.

 

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