City of Ekurhuleni: Putting its rating to good use

Picture: Eddie Mtsweni

Thebe Mabanga

The City of Ekurhuleni intends to use its good credit rating and outlook to raise funding for capital in order to improve its attractiveness as an investment destination.

This is according to Dr Nkosindiphile Xhakaza, the MMC for Finance, ICT and Economic Development at Ekurhuleni. Xhakaza was speaking on Thursday at the sidelines after delivering his budget speech at the Council Chambers in Germiston.

Xhakaza noted that one of the key pillars on which the City’s finance rests is its good credit rating, which reflects prudent financial management.

“The credit rating outlook of the City by Moody’s is quite favourable at Aaa.za. This means we remain the opportune and/or preferred destination for investment,” Xhakaza said in his address.

According to Moody’s, Ekurhuleni is rated at the high end of the range for South African municipalities.

Moody’s cites the city’s large and diversified revenue base, with