South Africa: Finance Minister Warns Joburg Is in 'Severe Financial Distress' in Letter to Mayor Morero

Joburg’s financial woes laid bear in scathing letter from finance minister Godongwana

Mayor Dada Morero insists there is “no cause for concern”

Treasury warns Johannesburg over illegal wage deal and funding cuts

Key topics:Treasury threatens to cut Johannesburg fundingIllegal wage deal risks city financial stabilityFunding crisis intensifies before local electionsSign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offering balanced insights on investments, …

Why Zille doesn't want City of Joburg under administration

Dada Morero says there is no reason for residents to panic.

Bankrupt Joburg imperils national economy, warns Finance Minister Enoch Godongwana

DA mayoral candidate Helen Zille is pressing for Joburg to be placed under National Treasury financial administration, while the ANC wants a meeting with the minister to protect a two-year, R10.3bn staff wage deal.

South Africa: Finance Minister Warns Joburg Is in 'Severe Financial Distress' in Letter to Mayor Morero

Enoch Godongwana has ordered Joburg's mayor to stop the implementation of a budget-busting wage deal and warns it could affect the national economy.

Johannesburg Told by Finance Minister It May Lose State Funds

South African Finance Minister Enoch Godongwana told Johannesburg Mayor Dada Morero that state funding to the city will be halted unless a 10.3 billion-rand ($629-million) wage agreement is scrapped.