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Availability of the annual financial statements for the year ended 30 June 2025
CITY OF JOHANNESBURG METROPOLITAN MUNICIPALITY
(a municipality as described in section 2 of the Local Government Municipal Systems Act, 2000, duly
established in terms of Notice No. 6766, promulgated in the Provincial Gazette Extraordinary of
1 October 2000 in terms of section 12(1) read with section 14(2) of the Local Government: Municipal
Structures Act, 1998, as amended)
Issuer Bond Code: BIJHB
(the "City")
AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
Bondholders are hereby advised that the City's audited annual financial statements for the year ended
30 June 2025 ("Annual Financial Statements"), the Auditor General of South Africa's unqualified audit
report thereon ("Auditor's Report") and the annual integrated report for the year ended 30 June 2025
("Annual Integrated Report") are available for inspection, during normal office hours, at the registered
office of the City and are available for viewing and downloading at the following links:
Annual Financial Statements:
City-of-Johannesburg-Metropolitan-Municipality-Audited-Financial-Statements-2025.pdf
Auditor's Report:
https://joburg.org.za/work_/Documents/Annual-Integrated-Report-2025/City-of-Johannesburg-
Metropolitan-Municipality-Audit-Report-2025.pdf
Annual Integrated Report:
City-of-Johannesburg-Annual-Intergrated-Report-2025.pdf
Emphasis of matter and material irregularities:
Bondholders are hereby advised that the Auditor's Report contain:
• emphasis of matter paragraphs relating to (i) contingent liabilities, (ii) material losses arising
from the write off of trade and other receivables, (iii) material electricity distribution losses and
(iv) material water distribution losses; and
• material irregularity findings relating to: (i) the non-refurbishment of the Park Chambers
building; (ii) the non-utilisation of the Metro Centre building; and (iii) the non-utilisation of certain
Bus Rapid Transit stations. The auditor noted that these matters relate to the ineffective
utilisation and management of public assets and resources.
For detailed disclosure, please refer to the Auditor's Report.
Prior period restatement:
As disclosed in note 47 of the Annual Financial Statements, certain corresponding figures in both the
Group and City statement of financial position, statement of financial performance and statement of
cash flows for the year ended 30 June 2024 ("Prior Period") were restated as a result of errors identified
in the current reporting period pursuant to, inter alia, improvements in the internal controls around
financial reporting which led to the detection and correction and/or reclassification of errors of certain
line items in the Annual Financial Statements in respect of the Prior Period.
Johannesburg
28 May 2026
Debt sponsor
One Capital
Date: 28-05-2026 04:55:00
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