The situation is at breaking point. Moneyweb SouthAfrica
By the end of December 2022, the total debt owed by around 100 municipalities to Eskom totalled R56.3 billion. Just 15 months prior, at the end of September 2021, total municipal debt to Eskom was R40.9 billion. That’s an increase of nearly 40% in little over a year. The situation is at breaking point.
The trouble with municipalities The obvious truth is that many municipalities are using this funding to pay salaries. Of the 257 municipalities in South Africa, a full 66 have been declared dysfunctional by the Department of Cooperative Governance and Traditional Affairs . On the brink In September, Treasury cautioned that 151 municipalities are on the brink of collapse. In the 2020/21 budget cycle, a full 106 municipalities – 40% – had adopted unfunded budgets .
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