GOOD Statement by Brett Herron,
GOOD Secretary-General
23 April 2025
The GOOD Party welcomes the recent announcement by GCR Ratings affirming the City of Tshwane’s unsolicited long-term rating at CCC(ZA), and notably revising the City’s outlook to Positive. The agency cited the easing liquidity risks and improving fiscal position. The historically poor financial status of the City has long been a concern raised by both the Auditor General of South Africa and the residents of Tshwane. Addressing this challenge became a central priority when the new multi-party administration, of which GOOD is part of, was elected to office in October 2024.
Since then, significant strides have been made. In the 2023/24 financial year, the City’s debt-to-equity ratio exceeded 85%. By January 2025, this had been reduced to under 65%, a marked improvement demonstrating our commitment to financial recovery and discipline.
The City has also reached a constructive agreement with Eskom regarding its inherited multi-million Rand debt. No interest will be charged on the outstanding amount, provided the City continues to honour the agreed-upon payment plan. A major step forward in restoring financial credibility and stability.
Tshwane tabled a fully funded draft budget last month, a break from the past five years of unfunded budgets under the former DA-led administration, which consistently committed the City to spending more than it could afford.
As part of the current administration, GOOD continues to prioritise financial prudence: increasing revenue, reducing unnecessary expenditure, and ensuring that the City learns to do more with less. Our goal is clear, to deliver affordable, reliable, and sustainable services to all residents of Tshwane.
GOOD is proud to be part of the team restoring financial integrity to South Africa’s capital city.
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