Cape Town's credit rating upgraded by Moody's to positive outlook due to effective revenue collection and low debt.

Cape Town's credit rating has been upgraded by Moody's from stable to a positive outlook, reflecting the city's effective revenue collection and low debt levels. The upgrade is expected to strengthen Cape Town's ability to fund a R39.5bn infrastructure investment over three years, with a focus on lower-income households. This is projected to create 130,000 construction-related jobs, solidifying Cape Town's position as South Africa's metro with the lowest unemployment rate.