Is Joburg too big to fail?
The more pertinent question is what conditions national government will impose before asking taxpayers elsewhere in the country to finance its rescue.
The City of Johannesburg’s budget looks respectable on the surface – but its self-proclaimed solvency is an accounting mirage.
The city reported an accounting surplus of R1.2 billion for the financial year to June 2025 and a cash surplus of R1.8 billion.
