GOOD press statement by Anton Louw,
GOOD: City of Cape Town Councillor
31 March 2022
Ploughing money into the financial blackhole that is the CTICC is manifestly irrational when that money could be better spent offsetting the burdensome water and electricity tariffs that have a stranglehold on already struggling Capetonians.
The Hill-Lewis administration, in its budget, has proposed sinking 200 million of ratepayer rands into the CTICC for little or no return in the publics’ interest.
It is unfathomable that we can support such a move by a city government who claims to care about its residents.
All the reports point towards a cost savings and initiative by the CTICC and with relaxing COVID restrictions, we do not see the need for an extension as it got by with R51 million.
The residents of Cape Town must demand Executive Mayor Hill-Lewis explain:
How his government intends to plunge R200 million of people’s hard-earned money in a company that is not profitable?
What is the benefit to the ordinary people of Cape Town? And
Whether this move will yield any dividends in the near future, if ever, knowing full well that there is a good possibility that the buyback option will never materialise.
It is clear that this administration has elected to use ratepayer rands to bankroll the CTICC instead of using it towards alleviating the burden of tariff increases on its residents.
Media enquiries:
Anton Louw, GOOD: City of Cape Town Councillor
Cell: 0823773335
Email: anton@cisfs.co.za
Samkelo Mgobozi, GOOD: Media Manager
Cell: 0792315977 (WhatsApp)/0829684021 (calls)
Email: samm@forgood.org.za