RESIDENTS can invest in the city via municipal bonds the City has issued. Known as Jozibonds, the City's retail bonds are savings products that give private individuals, trusts, stokvels, close corporations, companies and other legal entities an opportunity to invest in municipal-issued securities at competitive and market related interest rates. They are backed by Johannesburg's credit and represent a low-risk investment. The retail bonds will be listed on the Johannesburg securities exchange, JSE Ltd, which will regulate the City's conduct as issuer of the bonds, and so will ensure that the investment is safe.
Pricing
Tenure
2 year Jozibond
3 year Jozibond
5 year Jozibond
Minimum investment amount
R 1000
R 1000
R 1000
Interest rate
Three-month JIBAR + 5 basis points
Three-month JIBAR + 25 basis points
Three-month JIBAR, + 40 basis points
NACQ*
10.25%
10.45%
10.60%
Interest Payment Dates
September, December, March and June commencing December 2007
September, December, March and June commencing December 2007
September, December, March and June commencing December 2007
Listing and Trading
JSE Main Board
JSE Main Board
JSE Main Board
Market Maker
Standard Bank
Standard Bank
Standard Bank
NACQ (Nominal annual compounded quarterly) *As at 21 September 2007
A MUSICAL on the life of pianist Nat King Cole is scheduled for the Joburg Theatre Complex, with a special ballet performance to raise funds for the South African Ballet Theatre.
A SECTION of William Nicol Drive will be closed, preventing access to and from the N1, over the long weekend, as the interchange is converted into a single point interchange.
THE Inner City Charter Partnership Forum discussed progress in revitalising the inner city, with a specific focus on the residential sector and plans for bad buildings.
