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BICITY - Delay in availability of the Annual Financial Statements for the year ended 30 June 2025
THE CITY OF CAPE TOWN METROPOLITAN MUNICIPALITY
(A Municipality in terms of Section 155 of the Constitution of the Republic of South Africa, duly established
by notice in the Provincial Notice 479/2000 dated 22nd September 2000, of the Western Cape, pursuant to
Section 12(1) and Section 14(2) of the Local Government: Municipal Structures Act, 1998 (Act 117 of 1998)
as amended)
JSE alpha code: BICITY
("the City")
DELAY IN AVAILABILITY OF THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
The City hereby notifies debt investors that the finalisation of its audited annual financial statements for
the year ended 30 June 2025 ("AFS"), which are due for release on 31 January 2026, will be delayed. The
delay arises from matters raised during the audit that require legal interpretation, with which the City is not
in agreement with the Auditor General South Africa (AGSA). The City's dispute to these matters have been
formally registered, and the City is currently awaiting the outcome of the dispute resolution process. It is
noted that the matters under dispute are compliance-related and not financial in nature. This process
forms part of the normal, structured mechanisms designed to ensure accurate and compliance audit
outcomes and is being conducted in accordance with the terms set out in the AGSA's engagement letter
which the City signed.
The Executive Mayor, in terms of section 127(2) of the Municipal Finance Management Act, No 56 of 2003
("MFMA"), tabled a report at Council on 29 January 2026 setting out the above-mentioned reasons. This
report (C29/01/26 [ITEM 24A]) can be accessed on the City's website at the following webpage:
web1.capetown.gov.za/web1/councilhubonline/committeemeetingdetail?ecsmeetingid=16631
The AFS will therefore not be available to the public or the JSE as at 31 January 2026.
A further announcement will be released in due course regarding the availability of the City's AFS.
Cape Town
29 January 2026
Debt Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 29-01-2026 04:20:00
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