» Metro could fail to pay this month's bills if mayor not installed.
While Tshwane's city council has elected a new mayor, the city may be without money to pay this month's bills. The city council was set to convene yesterday to elect ActionSA's Dr Nasiphi Moya after the ousting of the DA's Cilliers Brink on 26 September.
Brink led a multi-party coalition with a paper-thin majority which was lost when ActionSA decided to leave. ActionSA has achieved a majority backed by the ANC and EFF.
In the meantime, council business is at a standstill.
R800m lifeline not yet approved
Jacqui Uys, former MMC for finance under Brink's leadership, told Moneyweb on Tuesday afternoon that the metro is waiting for the approval of an R800 million overdraft facility from a commercial bank.
When she vacated office, the bank indicated verbally that it had been approved, but the written approval was still outstanding by Monday afternoon.
Uys says whichever way, the council needs to attend to the matter urgently.
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The South African Institute of Auctioneers (SAIA) has unveiled a groundbreaking new resource aimed at making auctions more accessible and less intimidating for everyone.
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