SA’s municipalities head for total collapse
For the past 10 years, Ratings Afrika has been warning of the pending financial collapse of SA’s municipal sector. Over time its warnings have become increasingly shrill. In its latest report they reach fever pitch
Drive through small towns in SA’s hinterland today, and you don’t need a ratings report to know most municipalities are in serious financial trouble. But an objective scorecard is essential to show just how rapidly municipalities’ financial stability is deteriorating.
This decline is having a disastrous effect on the quality of life and business activity in these towns, and it poses a major threat to the entire country’s economic growth prospects...