City of Cape Town aims to borrow R4bn over next three years
(World News South Africa)

Cape Town - The City wants to borrow R4 billion over the next three years to fund its capital projects. It doesn´t want to use its own funds as that places a burden on the current ratepayer. One of the loans the city wants approved is an EUR80million (R1.3billion) loan from the German government-owned KfW Development Bank. The proposed loan was discussed at Tuesday´s Mayco meeting, and will be tabled at council at the end of the month. The proposal document, undersigned by mayoral...