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Availability of the Annual Financial Statements for the year ended 30 June 2021 - BIJHB
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
(“municipality” or the “issuer”)
AVAILABILITY OF THE ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED
30 JUNE 2021
In terms of section 6.15 of the Debt Listings Requirements of the JSE Limited, investors are
advised that the City of Johannesburg Metropolitan Municipality Group Annual Financial
Statements for the year ended 30 June 2021 are available for viewing and downloading at the
following link:
Group Annual Financial Statements
https://www.joburg.org.za/documents_/Documents/2020-
21%20Integrated%20Annual%20Report/Annexure%20A%20COJ%20Audited%20Group%20AFS%20
30%20June%202021.pdf
And
Group Audit Report
https://www.joburg.org.za/documents_/Documents/2020-
21%20Integrated%20Annual%20Report/Annexure%20B%20CoJ%20Group%20Audit%20Report.pdf
And
Group Integrated Annual Report
https://www.joburg.org.za/documents_/Documents/2020-
21%20Integrated%20Annual%20Report/City%20of%20Johannesburg%20Annual%20Intergr
ated%20Report_1st_Council%20version.pdf
The annual financial statements of the issuer have been audited by The Auditor -General of
South Africa, who has issued an unqualified audit opinion thereon.
The audit report contains the below Emphasis of matters
Material impairments
As disclosed in note 10 to the Group Annual Financial Statements, the consumer debtors
balance has been impaired. The allowance for impairment of consumer debtors amounts to
R32 715 319 000 (2019-20: R27 981 402 000), which represents 81% (2019-20: 82, 03%) of
the total consumer debtors.
Material losses
As disclosed in note 40 to the financial statements, material electricity losses of R3 671 613
000 (2019-20: R3 438 559 000) was incurred, which represents 30% (2019-2020: 30%) of
total electricity purchased. Technical losses of R1 143 642 000 (2019-2020: R1 088 851 000)
was due to energy losses. Non-technical losses amounted to R2 527 971 000 (2019-2020: R2
349 708 000) due to theft and bypass of meters, illegal decalibration of meters, damaged
meters and faulty voltage and current transformers, billing errors and customers without
meters.
Material contingencies
With reference to note 46 to the Group Annual Financial Statements, the group is the
defendant in various legal claims. The outcomes of these could not presently be determined
and/or reliably measured; therefore, no provision for any liability that may result was made in
the financial statements.
Restatement of corresponding figures
As disclosed in note 45 to the Group Annual Financial Statements, the corresponding figures
for 30 June 2020 were restated as a result of errors in the consolidated and separate financial
statements.
Johannesburg
25 February 2022
Debt Sponsor
Absa Bank Limited (acting through its Corporate and Investment banking division)
Date: 25-02-2022 07:30:00
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