[LISTEN] ‘Liquidity has gone downhill at a very, very great pace,’ Charl Kocks, CEO of RatingsAfrika on SAfmRadio MarketUpdate with jmoyaha_ standing in for FifiPeters. Moneyweb TarriffHikes
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Is it just the property rates that are going up, or are there other areas? I noted they said something about essential or key services increasing in terms of costing. That’s correct. Unfortunately, the one thing that has suffered tremendously is the liquidity. Liquidity has gone downhill at a very, very great pace. We measure that, as I said, year on year. They were up in the 30s and 40s at one stage, but they’re now at seven. The other thing is that the operating performance – in other words, the fact that they make a surplus or do not make a surplus every year – also has declined significantly.
The different services are exempt from paying rates, according to the statement issued by the City of Joburg. First of all, I think there’s no way that the City of Johannesburg can get away without increasing rates and tariffs every year, and similarly they can’t get away without increasing the costs of providing electricity to the residents either. On the water side there might be relief at some stage, but it honestly doesn’t look as if the water system and the infrastructure on that side are in good shape. So the answer is that they probably shouldn’t be decreasing any tariffs there.
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