Morero denies claims of missing billions from Joburg Water coffers

The City of Joburg has denied claims circulating on social media that R4 billion has gone missing from Joburg Water's bank account.

Mayor Dada Morero said no funds had been lost and assured residents that the city operates under a transparent and compliant financial system.

According to the city, the claims stem from a misunderstanding of its long-standing iGoli 2002 delivery model, which centralises municipal banking under group treasury.

The city has clarified that a global treasury practice known as “sweeping” automatically transfers balances from municipal entity accounts into the city’s primary account.

The city says this approach does not remove or hide money but ensures liquidity, reduces transaction costs, improves oversight, and allows for better investment return.

In a statement, Mayor Morero explained that all funds remain fully traceable and auditable.

The mayor has further condemned the spread of misinformation, warning that it undermines public confidence and distracts from service delivery.

Residents have also been urged to verify financial information through official city channels.