"It was a departure from the previous model of contracting security companies owned by politically connected individuals, who would receive on average R12,000 per security guard. The guards themselves were only paid R4,000 per month and often treated poorly by these companies," he said.said when the ANC relinquished control of the city, City Power had a cash-positive balance of R3bn."They are now running on an overdraft of R2.
Matongo claimed that the city had been borrowing money from financial markets for a long time to cover expenses as it was failing to collect revenue for rates and services. He said this was the reason for GCR Ratings placing the city 's rating on a"The negative outlook reflects GCR’s concerns regarding the persistent high gearing and weak liquidity, which weighs on the overall rating," GCR said in July.
Matongo said the ANC had expected Mashaba to"run away", seeing that in the next few months, the city might not be able to buy water from Rand Water and pay salaries to staff.
Is the ANC sure of anything?
U were more than just a success, hence ANC thieves r in celebration mode! But what they don't know, it's only momentarily...
And suddenly what the ANC says is gospel?
He is giving up on the people he claims to help bcs he can’t stand a wire woman being set democratically elected into a position of influence? Hmmmmmmmm
I can't listen to the losers called MYANC. They had their chance and did not deliver to the satisfaction of the people.
Trump believes he is very smart... Ego makes people blind to the many failures. Herman jumped because it got hot... Soon we will know why...