Since 2011, governance ratings agency Ratings Afrika (RA) has warned of the “unabated destruction” of South Africa’s municipal financial sustainability, with growing incredulity at the government’s failure to act.

Its annual Municipal Financial Sustainability Index (MFSI) ranks the 104 largest local municipalities and the eight metros for the year ending June 2022. There is again evidence of a financial bloodbath, with the exception of the Western Cape...

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