Yesterday Moya announced that the city had made a landmark agreement with Eskom to settle the R6.67 billion historical debt owed to the utility.
"This agreement, formalised as a court order on 26 November, is a significant milestone in our journey to financial recovery and stability.
"The arrangement outlines a structured repayment plan spanning five years, with the first payment of R400 million scheduled for December 2024. Additionally, the city has already paid R425 million in arrears for October 2024. A critical condition of this agreement is the timely payment of current accounts within 30 days of billing," she said.
This story is from the December 03, 2024 edition of The Citizen.
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This story is from the December 03, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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