Staff Reporter
Ekurhuleni mayor Mzwandile Masina said on Wednesday that he was working hard to ensure that the metro remains an investment-friendly city.
Masina, speaking during his state of the city address, said the show of confidence by rating agencies like Moody’s comes as an added advantage as it will make it easier for the metro to borrow money to build much-needed infrastructure projects.
Earlier this year, Moody’s found that the credit profile of the City reflected its stable financial performance, supported by a large and diverse economic base and significant, predictable revenue from service charges and property taxes.
The city also received two unqualified audit outcomes from the Auditor General who said the city’s financial statements were fairly and appropriately presented, without any exceptions, and in compliance with accounting standards.
“This rating [by Moody’s] is not only a vote of confidence in the finances and governance of the city,
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