Latest news with #FinanceMMC
IOL News
28-05-2025
- Business
- IOL News
Joburg allocates R6. 4 billion for infrastructure repairs and urban renewal
The Johannesburg Roads Agency plans to complete rehabilitating the Lilian Ngoyi Street in Johannesburg by the end of August 2025. Image: Itumeleng English / Independent Newspapers The City of Johannesburg has set aside R6.4 billion to repair and maintain its aging infrastructure and plans to complete rehabilitating Lilian Ngoyi Street (formerly Bree Street) by the end of August. Margaret Arnolds, the municipality's Finance MMC, announced the plans on Wednesday when she tabled the R89.4 billion budget for the 2025/26 financial year. 'The city has established an expanded maintenance budget for water and electricity infrastructure, recognising that prevention is more cost-effective than repair. 'The repairs and maintenance budget amounts to R6.4bn, 7% of the property plant and equipment budget, and this will increase over the medium term to 7.2%,' Arnolds said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ She stated that 47% of the budget will go towards asset renewal, which augments the repairs and maintenance budget by bringing a new lease of life to aging infrastructure, and that by the third year, this will increase to 58% of the budget. Additionally, Arnolds explained that as part of the municipality's commitment to rebuilding a safe, resilient, and inclusive inner city, the first phase of the Lilian Ngoyi Street rehabilitation will be completed by August 30, 2025. The project is led by the Johannesburg Roads Agency and represents more than just the repair of critical infrastructure, according to the African Independent Congress councillor. 'It is a bold investment in urban renewal, economic revitalisation and public safety. We are restoring a vital artery,' Arnolds said. In July 2023, the busy street was damaged after a gas explosion that left one person dead and over 40 injured. Arnolds said the city's top priority was restoring basic services. 'We heard our residents, those waiting for refuse to be collected, for water leaks to be fixed, and for power outages to end. That is why the city has implemented a service failure tracking system through the war room. This centralised hub monitors water leaks, electricity disruptions, refuse non-collection, and road damage in real time,' added Arnolds. She said the war room allows for rapid deployment of resources to high-complaint areas and integrates data from all municipal entities for decisive action. Arnolds added that the city has operationalised a cross-cutting war room that functions as an executive oversight and early-warning mechanism over the past year.
Eyewitness News
28-05-2025
- Business
- Eyewitness News
CoJ's R200 prepaid electricity surcharge extended for another financial year
JOHANNESBURG - There is no good news for prepaid electricity customers in Johannesburg, as the R200 surcharge has been extended for another financial year. Finance MMC Margaret Arnolds confirmed during her budget speech on Wednesday that the surcharge was here to stay. It was first implemented in July 2024, causing public outrage about soaring electricity prices. ALSO READ: - CoJ allocates more than R5bn to address water challenges over next three years - City of Joburg's Finance MMC tables R89bn budget - ActionSA says won't support CoJ budget unless R200 electricity surcharge scrapped The City of Johannesburg expects to generate R25 billion in electricity revenue in the next financial year, which is a 12.5% increase from the current fiscal period. A significant driver of this increase is the controversial R200 surcharge imposed on prepaid electricity users. Although the surcharge adds to the financial burden on residents, Arnolds said that maintaining it at R200 was in the best interest of taxpayers. "We refuse to allow economic pressure to push our people further into the margins. That is why we are holding the prepaid electricity surcharge unchanged at R200, excluding VAT - a deliberate act to protect the poor against rising energy costs. "This budget makes it clear: we will not govern in a way that reproduces inequality. Our pro-poor programme is a political choice rooted in the values of equity, dignity, and redress. It is a signal that in the City of Johannesburg, no one will be left behind. Not on our watch." She said that other metros in the country also imposed a similar electricity surcharge, and claimed that Johannesburg remained more affordable in comparison.
Eyewitness News
28-05-2025
- Business
- Eyewitness News
CoJ allocates more than R5bn to address water challenges over next three years
JOHANNESBURG - The City of Johannesburg (CoJ) has allocated more than R5 billion to be spent over the next three years to address water supply challenges. Finance MMC Margaret Arnolds announced this allocation during her maiden budget speech in council on Wednesday morning. READ: City of Joburg's Finance MMC tables R89bn budget The R5 billion capital injection to Johannesburg Water will be channelled towards addressing infrastructure failures and pipe replacements. Arnolds said the money wold also go towards funding major wastewater treatment plants in the metro. "The city will also invest in smart pressure management systems and digital leak detection tools, reducing water loss and increasing service reliability." She expanded further on how the cash would be put to use. "Targeted water pipe replacements in high-leakage zones to reduce non-revenue water, new sewer connections to informal settlements and densified townships, international DFI financing for upgrade of leaking reservoirs and towers, which also contributes to reduced losses."
