THE Department of Human Settlements is in a race against time to enforce its optimistic seven-day deadline for the payment of more than R1bn to cover contractors’ outstanding invoices.Human Settlements Minister Lindiwe Sisulu said provincial housing departments and municipalities would lose their funding if they failed to pay contractors within the seven days.The minister set the deadline last week after a meeting with about 500 contractors. The Municipal Finance Management Act requires municipalities to pay creditors within 30 days.Human settlements spokesman Ndivhuwo Mabaya said on Monday the department was "convinced" it could pay the contractors within the seven day-period, but it might have to be extended to 30 days.The 3,000 invoices being processed were from April last year to last month. Some were multiple invoices from a single contractor.Ms Sisulu planned to meet with Finance Minister Pravin Gordhan in the next few days to find a way to pay the contractors, he said.Mr Maba...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now