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.
July 01, 2024
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