MAYOR SAYS NO MISSING R4 BILLION
The City of Johannesburg has dismissed claims that R4 billion has disappeared from Joburg Water’s bank account, calling them false, reckless, and misleading.
Executive Mayor, Councillor Dada Morero, assured residents that no funds have been lost. He explained that Joburg Water operates under the City’s Group Treasury system, a financial model in place for over two decades.
This system uses a process called “bank sweeping”, where money from all municipal entities is temporarily moved into the City’s main account at the end of each day. The following day, the funds are returned to the respective entities to meet their financial needs.
Morero stressed that this is a global best practice used by large organisations and municipalities to manage cash flow efficiently, reduce banking costs, and improve accountability.
To prove the point, the City released figures showing that at the end of July 2025, Joburg Water still had R3.7 billion in its account, despite daily transfers. This, the Mayor said, is clear evidence that the money has not disappeared.
The City has condemned the spread of misinformation, saying it creates unnecessary panic and diverts attention from real service delivery issues.
“Funds transferred through the sweeping process remain fully traceable, auditable, and secure,” the statement read.
The City urged residents and the media to verify information through official communication channels before sharing unverified claims.
The Mayor concluded by reaffirming the City’s commitment to transparency, accountability, and sound financial management.
