The African National Congress (ANC) Caucus in the City of Ekurhuleni has welcomed the affirmation of the City’s credit ratings by GCR Ratings, coupled with an improved outlook from negative to stable.
This development signals growing confidence in the city’s fiscal management and commitment to good governance amid challenging economic conditions.
GCR Ratings has affirmed Ekurhuleni’s national scale long-term issuer rating at BBB(ZA) and short-term rating at A3.
The shift to a stable outlook highlights the city’s steady operational performance. This as well as progress in reducing gross debt and enhanced expenditure efficiency. All despite ongoing liquidity challenges and capital expenditure constraints.
ANC Caucus Chief Whip, Ald Sizakele Masuku released a statement on Wednesday. He said the affirmation is a testament to the stabilising measures implemented by the leadership.
Restoring financial discipline
“It reflects our dedication to restoring financial discipline and building a sustainable future for Ekurhuleni’s residents,” said Masuku.
These ratings follow Executive Mayor Nkosindiphile Xhakaza’s recent address to the council. There, he outlined six strategic priorities to guide the administration through its term.
These priorities, unanimously supported by all political parties, aim to rebuild and reposition the City. The revised credit outlook emphasises the measurable progress already achieved under this roadmap.
Masuku said they are looking ahead, as the ANC Caucus is gearing up for the tabling of the 2025/2026 Budget Speech by MMC for Finance, Jongizizwe Dlabathi, scheduled for Thursday, at the New Council Chambers in Germiston.
Accelerated service delivery
The budget is expected to prioritise financial sustainability, revenue enhancement, and accelerated service delivery to address the needs of Ekurhuleni’s residents, he said.
“We are confident that this budget will reflect the aspirations of our people and prioritise service delivery to improve living conditions.
“The Caucus remains committed to a governance model grounded in accountability, transparency, and responsiveness to the needs of Ekurhuleni’s communities,” Masuku added.
