The DA controlled Cape Town metro wants to borrow R4 billion over the next three years to fund its capital projects.
The council does not want to use its own funds, as it will apparently place a burden on the city’s taxpayers. Interest will be calculated at 8,45% over a period of 15 years.
Economists say that if you have money to spend and you are going to borrow money at an interest rate, it’s difficult to explain.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
