The City of Johannesburg is considering raising as much as R2-billion of new debt to address a mounting infrastructure backlog. Newly elected Mayor Dada Morero said the city is exploring options to fund critical projects, mainly to repair water and electricity infrastructure, as it faces financing needs exceeding R44-billion. The authorities are in talks with local financial institutions, such as Standard Bank Group, and international entities including the World Bank and Agence Française de Développement to explore funding options, he said.
