By Akani Nkuna
President Cyril Ramaphosa said on Thursday that improving the financial sustainability of metropolitan municipalities could unlock more than R100 billion in investment, as government pushes reforms to stabilise local finances and fix service delivery failures.
He said the National Treasury’s Metro Trading Services reform programme was aimed at strengthening municipal balance sheets and attracting capital.
“The programme aims to improve financial sustainability and to unlock R108 billion in investment by enforcing clear performance targets. If we are able to reach high-performance targets, the incentive for all of us is that there will be billions that will be invested,” Ramaphosa said.
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He was speaking at a meeting of the Presidential Coordinating Council (PCC) at the Birchwood Hotel on Thursday, attended by government officials, including MECs, mayors and municipal managers under the National Water Crisis Committee
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