City Power owes contractors R900 million, vows to improve payment turnaround [SOUND]

# City Power says it owes contractors approximately 900-million-rand, as it steps up efforts to settle outstanding payments and improve payment turnaround times. Spokesperson Isaac Mangena says the utility has started making partial payments following the implementation of financial ring-fencing at the beginning of this month. The payments were outlined during an engagement with protesters outside City Power’s head office in Reuven. Mangena says further payments will be made as funds become available, with the oldest verified invoices prioritised: