External finance
13 August 2026
The Treasury Department has many functions. One of the most important of these is its responsibility to raise new loans, service existing loans, account for external loans, and ensure that the City complies with the terms of its loan agreements.
External loans
An external loan is a long-term liability repayable to an external financial institution over a number of years, together with interest. It is used to finance the outlay of capital assets funded by the External Financing Fund (EFF). Capital assets are funded through the issue of municipal bonds or the obtaining of external loans from financial Institutions.
Bonds
The City has issued four bonds thus far to raise external finance. These bonds have raised R5,2 billion as part of the City’s R7 billion Domestic Medium-Term Note Programme (DMTN) and are listed on the
Johannesburg Stock Exchange (JSE). The bonds have been redeemed as follows:
- CCT01, the first bond issued with a capital balance of R1 billion, was redeemed on 23 June 2023
- CCT02, the second bond issued with a capital balance of R1,2 billion, was redeemed on 12 June 2024
- CCT03, the third bond issued with a capital balance of R2 billion, was redeemed on 17 March 2025
Financial documents
Read or download the following documents:
Green Bond:
- CBI - Annual Update Report 2026 - City of Cape Town
- Green Bond – KPMG's Post-Issuance Report
- Green Bond – KPMG’s Pre-Issuance Report
- Green Bond Reporting Framework
- Moody’s – Updated Green Bond Assessment – 3 June 2019
- Moody’s – Green Bond Assessment
Long-term borrowings
- Long-term Borrowing AFD Contract 2023
- Long-term Borrowing AFD Contract 2013
- Long-term Borrowing KfW Contract 2019
- Long-term Borrowing KfW Contract 2025
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Long-term Borrowing Nedbank Contract
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Long-term Borrowing IFC Contract
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City of Cape Town – Programme Memorandum
-
City of Cape Town – Information Statement
- CCT04 Bond – Pricing Supplement
Annual Consolidation of Disclosure Statement 2024/25
- Disclosure Statement
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Schedule 1 - Moody's Final Credit Opinion
- Schedule 2 - Signed Auditor-General's Opinion
- Schedule 3 - Signed Legal Opinion