financial solvency

The Auditor-General’s report on Windhoek Municipality’s 2022 and 2023 finances, highlights major concerns, resulting in a disclaimer of opinion. Key issues include missing accounting policies for public-private partnerships, unapproved salary increases, incomplete land records, and possible data manipulation. With liabilities exceeding assets by over 723 million dollars, the Municipality faces serious solvency risks. The report warns these issues could impact service delivery, urging stricter controls and a financial recovery plan.