Sol Plaatje top in ranking

2016-04-13 06:00

RATINGS AFRIKA stetplaces the Sol Plaatje Municipality in the category of the most financially-stable municipalities in South Africa.

Ratings Afrika, previously known as Moody’s South Africa, has released a report on the financial situation in municipalities.

With a rating of 76 (out of 100), the Sol Plaatje Municipality has been placed just behind the joint leaders, Riversdale and Kwa Dukuza (Ballito), with a score of 78. Lady Gray was scored at 77.

This rates the Sol Plaatje Municipality as number one in the Northern Cape and among the top five in South Africa.

In its report the ratings agency stated it had analysed the finances of the various municipalities by looking at operating performance, budget practices and ­liquidity, and from that it drew a stability index. The index is prepared for all municipalities in the country, including metros. Of the metros, Cape Town obtained the highest score at 75.

Commenting on the rating agency’s report, Goolam Akharwaray, municipal manager, expressed his satisfaction at progress made in the overall governance of the municipality and the developments in the infrastructure improvement programme.

“It is useful to know that outside analysts (who scrutinise the detail of our records) can independently confirm the state of affairs in the municipality and rank us so highly,” said Akharwaray.

This comes hot on the heels of the unqualified audit opinion issued by the Auditor General for the last financial year.

“The challenge is to sustain this performance as we move into the future, but a good foundation has been laid to achieve such sustainability.”

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