KwaDukuza on top in latest financial ratings

2016-05-04 06:00

KWADUKUZA Municipality was recently announced as one of the most financially sustainable municipalities in the country by financial ratings agency Ratings Afrika.

This was announced in the agency’s latest financial analysis of 100 of the biggest South African municipalities for the 2014/15 financial year.

The agency measures each municipality’s operating performance, liabilities management, budget practices and liquidity position it compiles a Municipal Financial Stability Index (MFSI), giving each municipality a mark out of 100.

According to the report, KwaDukuza has maintained a consistent financial position over the past five years.

Speaking to the Weekly, mayor Ricardo Mthembu said: “We were the best scoring municipalities in the 2014/2015 financial year each with a score of 78. This means that we have well entrenched financial policies, budgets based on sound long-term financial strategies, we adhere to good budgetary practices, strict financial control and good revenue collection.

“It is heartening to learn that KwaDukuza has done so well over the years.”

Mthembu added, since around 2004 onwards, KwaDukuza had been under serious financial constraints and performing at the lowest levels in the country.

“By 2010, we had achieved second position in the country. In 2011 till 2013, we were at number one. We are the only municipality that has demonstrated such consistent resilience.”

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