CoJ was suspended after it failed to comply with JSE’s requirements.
The Johannesburg Stock Exchange (JSE) has lifted its suspension on the City of Johannesburg’s listed debt instruments, restoring the municipality’s access to the local debt market after the temporary halt triggered by delays in submitting its audited financial statements.
Andre Visser, director of issuer regulation at the JSE, confirmed the lifting of the suspension to The Citizen on Monday, saying the suspension was lifted with immediate effect after the municipality complied with the bourse’s debt and specialist securities listings requirements.
This comes after the city’s debt securities were suspended on 27 March for failure to publish its audited annual financial statements for the year ended 30 June 2025 within the prescribed period.
CoJ violated JSE requirements
According to the JSE listings requirements, a listed company has up to three months to publish its preliminary or condensed financial results and up to four months to issue its full audited annual financial statements (AFS) and integrated annual report following its financial year-end.
“The JSE announced on 27 March 2026 that the CoJ failed to comply with the JSE’s debt and specialist securities listings requirements by not publishing its audited annual financial statements for the year ended 30 June 2025 within the prescribed period,” said Visser.
“The JSE also advised that as a consequence, the listing of the issuer’s debt securities and the registration of the issuer’s placing document were suspended with immediate effect.”
CoJ complies
He added that the city subsequently published the audited annual financial statements on 28 May 2026, thereby bringing it into compliance with its reporting obligations in terms of the requirements.
“As a result, the JSE lifted the suspension with immediate effect.”
Loyiso Masuku, Joburg’s deputy mayor and member of the mayoral committee for finance, welcomed the news.
“The lifting follows the city’s successful tabling of its annual report for the 2024/25 financial year, fulfilling a key regulatory requirement and restoring full compliance with JSE debt listing requirements,” she said in a media statement.
Restoring investor confidence
Masuku said this is a step forward in restoring investor confidence and market credibility.
“It signals to rating agencies, investors and residents that the City of Johannesburg is stabilising governance, strengthening financial reporting, accountability and sound public finance management,” she added.
“The work does not end here. This milestone must translate into improved service delivery on the ground. Our focus remains on financial sustainability, clean audits and ensuring every rand delivers value for the residents of Johannesburg.”
This follows after the metro was accused of downplaying the suspension, as it described it as a “technical compliance matter related to reporting timelines, not an indication of financial distress or instability”.
“The city has prioritised the integrity and accuracy of its financial reporting processes to ensure full compliance with applicable regulatory requirements.”