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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

South Africa

Deputy President Says Government Is Collaborating with Development Bank to Aid Indebted Municipalities

todayNovember 1, 2024 3

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S.A’s Deputy president Paul Mashatile says the government is working with the Development Bank of Southern Africa to secure resources to assist municipalities that are in debt. Municipalities owe creditors 116.5-billion-rand, with 75.3-percent of this debt more than 90 days overdue. In turn municipalities in 2023/2024 were owed 339.9-billion-rand. Answering questions in the National Assembly yesterday, Mashatile said it is concerning that many municipalities are in financial stress:

 

Written by: Leonard Witbeen

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