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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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