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The business sector has pledged resources to support government efforts to address Joburg’s deepening financial and governance crisis, finance minister Enoch Godongwana said, as the country’s biggest city becomes the focus of a new phase of co-operation between the state and corporate South Africa.“Business is quite keen to work with us. They are also prepared to put up some resources,” Godongwana said in an interview with Business Day.He said the government was still determining the form and content of the contribution and would engage business further in the coming weeks.The commitment marks an expansion of the government business partnership into Joburg. Companies have warned that the city’s decline poses a threat to the national economy. Johannesburg, the country’s economic hub, accounts for about 16% of South Africa’s GDP, according to business leaders who in June called on President Cyril Ramaphosa and the national government to intervene in the city’s crisis.The city’s metro faces severe financial pressures. Business has previously warned that the city’s adjustment budget is unfunded and that its financial position could put transfers and essential services at risk. The city owed creditors R25.2bn while holding only R3.9bn in cash, according to figures cited by the business sector in June. Eskom has also threatened to suspend electricity supplies over an unpaid debt of R5.3bn. The city of Joburg has also been added as one of the areas where the government and business leaders will be focusing on. Below is a graphic showing the work streams and the CEOs of some of SA largest listed companies will be leading @BDliveSA pic.twitter.com/UKJ5JsBUqt— Thando Maeko (@HelloThando) August 20, 2026
