To date capital cost to the Cape Town Stadium is at about R 4 289 000 000. The operating and maintenance expenditure for the 2014/2015 financial year amounts to about R203 179 190
Cost of consultants for 2014/2015 financial year is about R8 852 260. Two tournaments were hosted and the match between Bafana and Angola, income was at R560 216 and the expenditure was at R2 822 241. More than a R2 million loss is evident in this one match. The city also spent huge sums of money on a former Executive Director and DA Cllr Grant Pascoe to visit Manchester and Liverpool in the United Kingdom. The return on investment was a disgrace as both ultimately resigned.
Similarly, Cabinet recently appointed another new board to the South African Post Office who is on the brink of financial collapse. The Post Office was brought under administration in November after a strike that brought service delivery to a halt. The Post office which suffered a net loss of R285 million in the first 3 months of the year, loses about R100 million a month. The Post Office does not even have money for petrol for its delivery vehicles. The government has allowed the Post Office which has existed since Jan Van Riebeeck to disintegrate.
Ironically, Cape Town was originally established as a refreshment and primary message station for passing ships. The evidence is nearby in the Golden Acre where mail was placed under rocks.
Thank you to the DA and ANC. What citizens needed, was to see how politicians waste a few billion while we live in fear of criminals and struggle to pay municipal bills before the lights go off in any case.
Cllr Yagyah Adams
Cape Muslim Congress