WATCH: 'We have cash in the bank' - Jordaan on Nelson Mandela Bay


Port Elizabeth, 15 April 2016 - The Nelson Mandela Bay Metro Executive Mayor, Danny Jordaan addresses the media.

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Editor&39;s note: This live event is now over. Watch the recording in the gallery above for more, or read further here.

PORT ELIZABETH – Nelson Mandela Bay mayor Danny Jordaan says the metro&39;s finances have stabilised.

Financial mismanagement of more than R2-billion was highlighted by the auditor general in February.

Jordaan was briefing the media on progress since he took office in May last year, following an intervention by the ANC&39;s National Executive Committee.

"We have cash in the bank, we have financial stability ... financial stability has been achieved and we are very happy that we are in that place," Jordaan stated.


He added that strides had also been made in dealing with corruption.

"We have removed almost 29 of our most senior people in our administration and the immediate impact we can see is the accelerated delivery of housing."