The City of Johannesburg mayor, Dada Morero, was recently elected president of the Fonds Mondial pour le Développement des Villes (FMDV) - Global Fund for Cities Development at the organisation’s Extraordinary General Assembly and board of directors meeting.
The FMDV is a non-profit organisation that provides financial assistance for the development of urban cities and economies in local governments.
“As a global alliance platform, FMDV brings together local and regional governments and their networks to share knowledge, expertise, and the best practices in sustainable finance,” said the municipality.
The metro praised Morero’s efforts in advocating for innovative financing solutions to develop the inner-city’s economy, especially after the mayor declared the city a construction site.
“Under mayor Morero’s guidance, the city has made significant strides in identifying innovative financial tools and mechanisms, including the development of the Johannesburg Green bond and pool financing model.
“These pioneering financial instruments have become a benchmark for FMDV's expertise in sustainable urban finance and have positioned the city as a leader in urban finance on the global stage,” said the metro.
It has been a key player in multilateral institutions, where it cemented its position as a thought leader in urban development.
The metro’s stakeholder engagements focused on some key topics in urban development.
According to the Joburg Municipality, it has been actively involved in global discussions by exploring innovative financing mechanisms to support sustainable urban development.
In these engagements, it has further voiced its concerns about the impact of climate change.
“The City of Joburg has been a key player in global climate change mitigation efforts, recognising the critical role of local governments in addressing climate change.”
The metro also contributed to the development of the New Urban Agenda, which focuses on sustainable urban development and the implementation of the Sustainable Development Goals (SDGs).
The SDGs are 17 goals identified by the UN that aim to address the urgency of environmental, economic and political challenges in order to stabilise the lives of people, and the planet amid climate change by 2030.
“The City of Johannesburg has mainstreamed the SDGs into its development planning, ensuring that its policies and programs align with the global development agenda,” said the Joburg Municipality.
Moreover, the ANC Joburg Regional secretary, Sasabona Manganye, welcomed Morero’s election as FMDV president, noting that he is the best candidate to occupy his new position having previously worked as the MMC of Finance.
Manganye confidently said the mayor will take the metro’s financial status to greater heights in its role as the country’s chief economic hub.
“As South Africa works towards financing a sustainable economy, the ANC Johannesburg is pleased with the election of Comrade Morero, who will equally make a significant impact in this regard through the global platform he now leads,” said Manganye.
He added that Morero’s presidency in the FMDV aligned with the metro’s 2040 Growth and Development Strategy, which makes provision for a resilient, liveable, and sustainable urban environment.
The Star