ActionSA congratulates Executive Mayor Dr Nasiphi Moya and the multi-party coalition government of Tshwane following the latest review by international credit rating agency Moody’s, which recognises the significant progress being made in restoring the City’s financial health after years of financial distress.
In its review published on 23 October 2026, Moody’s recognises improving financial management, stronger operating performance, increased investment in water, sanitation and electricity infrastructure, and a declining debt burden.
Moody’s further projects that the City’s debt will decline to approximately 12% of operating revenue by the 2027 financial year, with its operating margin stabilising at between 7% and 8%. Even the City’s historically weak liquidity position has shown gradual improvement.
These findings provide independent recognition of the financial progress being made under Mayor Moya’s leadership, despite the enormous challenges inherited from successive DA-led administrations.
For more than two years, Cilliers Brink and the DA have sought to portray Tshwane as a city on the brink of financial collapse. Conveniently absent from this narrative is the financial position in which Brink left the City when he was removed from office in October 2024.
During Brink’s 18 months as Mayor, Tshwane’s Eskom debt ballooned from approximately R1 billion to R6.67 billion. Eskom’s own records documented repeated failures to settle monthly accounts, severe cash-flow pressures and escalating overdue debt.
Since Mayor Moya took office, the City reports that this debt has fallen to approximately R4.1 billion — a reduction of R2.57 billion, or nearly 40%.
The City’s audit record is equally revealing. Under DA Mayor Randall Williams, Tshwane received an adverse audit opinion. Under Brink, the City continued to receive qualified audit opinions, initially with 13 areas of qualification, subsequently reduced to six. Under Mayor Moya, this has fallen further to just two.
There is considerable irony in Brink presenting himself as the authority on Tshwane’s financial management when his own mayoralty ended with billions in unpaid Eskom debt and a municipality under severe financial pressure.
It has become laughable that Brink’s mayoral campaign continues to revolve around warnings of financial collapse while overlooking the financial crisis that developed during his own administration.
Moody’s latest review recognises improving financial management, stronger operating performance and a declining debt burden. Its findings stand in stark contrast to the picture of unrelenting deterioration repeatedly presented by Brink and the DA.
The objective financial indicators also provide important context for the latest eNCA/MarkData election survey, which shows Mayor Moya ahead of Brink as the preferred candidate to lead Tshwane after the elections, with 25.9% compared with Brink’s 20.1%.
ActionSA welcomes this recognition of Mayor Moya’s leadership and the progress achieved by the multi-party coalition government. While Tshwane continues to face serious financial and infrastructure challenges, the improvements in its financial position demonstrate that meaningful progress is possible.
The task now is to sustain these gains, further strengthen the City’s finances and translate improved financial performance into reliable services for residents.
ActionSA congratulates Mayor Moya and her coalition partners on the work undertaken to restore the Capital City’s finances and encourages the administration to remain focused on completing the turnaround.
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