DA-Led Tshwane Council to Review Pretoria Contracts: BDAntony Sguazzin
The Tshwane municipal council, which is controlled by South Africa’s two biggest opposition parties, is reviewing billions of rands of contacts agreed to under the previous administration, Business Day reported, citing a city councillor.
Contracts to be reviewed in the municipal area, in which the capital Pretoria lies, include a 5 billion rand ($342 million) rental contract for the municipal headquarters, as well as contracts for utility meters, Wi-Fi and broadband provision, the Johannesburg-based newspaper said, citing Lex Middelberg, a councillor for the Democractic Alliance.
The 27-year rental contract excludes annual escalations while the city-wide free Wi-Fi contract was supposed to cost 75 million rand a year but now costs 400 million rand, the newspaper said. The broadband contract has cost 300 million rand and 3 billion rand was lost on the contract for utility meters that can be read remotely, Business Day said.
Tshwane was run by South Africa’s ruling African National Congress until local elections on Aug. 3.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- ‘No Cash’ Signs Everywhere Has Sweden Worried It's Gone Too Far
- Morgan Stanley Says Stock Slide Was Appetizer for Real Deal
- Boom Turns to Bust for Millennials Across Advanced Economies
- How One of the Most Profitable Trades of the Last Few Years Blew Up in a Single Day
- Dollar Steady, Oil Rises as European Stocks Falter: Markets Wrap