JOHANNESBURG - The City of Johannesburg has secured a R3.8 billion loan from the German Development Bank.
The funding is meant for critical electricity infrastructure upgrades across the network.
Energy expert Chris Yelland has warned that the money must be spent on the right assets.
"This is a long-term loan and you know, in terms of financial good practice, long-term debt is used to finance long-term assets. So this loan is not for the purpose of paying salaries or operational costs.
"It's looking at critical infrastructure that can make a significant difference to the revenue stream of the City of Johannesburg.
"So it needs to be spent carefully on critical infrastructure and to just mention a few smart metering and metering infrastructure, both ICT in information and communication technology," he said.