GOOD party condemns Cape Town for borrowing R2.8 billion loan from German Development Bank [SOUND]

# The GOOD party in the Western Cape has condemned the City of Cape Town for recklessly borrowing foreign money linked to the unstable rand. The GOOD Party’s Suzette Little, says Cape Town has borrowed 2.8-billion-rand from the German Development Bank, KfW to finance major electricity grid upgrades. She says there is no guarantee of the rand value over the 15-year duration of the loan: