Over half of municipalities are bankrupt or insolvent
Finance minister Enoch Godongwana paints a bleak picture of the breakdown of service delivery that is being compounded by political dysfunction in many municipalities
14 July 2022 - 12:49
UPDATED 14 July 2022 - 23:15
More than half of the country’s 257 municipalities are bankrupt or insolvent and unable to pay creditors or even service workers’ pensions, finance minister Enoch Godongwana said.
Speaking at the Chris Hani District Municipality’s economic development and investment summit in the Eastern Cape on Thursday, Godongwana said more than 150 municipalities are bankrupt or insolvent, with unfunded budgets the primary catalyst for financial distress...
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