Local government plays a vital role in the social and economic development of communities and in enhancing democracy. Since the advent of a democracy in 1994, a far-reaching package of legislations have been introduced to ensure that municipalities are more accountable, financially sustainable and capable of delivering essential services to their communities.
Municipalities receive inadequate funding to fully finance their capital plans and are required to explore other funding alternatives. Some municipalities have in the recent past engaged in various initiatives to source funding to prevent financial distress resulting from the inability to meet their financial obligations.
It is against this background that SALGA-Gauteng has initiated a programme to explore various financing options available for member municipalities by convening a Borrowing Symposium. The Symposium is being convened with the following objectives:
- To serve as a knowledge sharing platform where matters related to bonds, leasing, finance loans, equity sharing and the related legal environment will be discussed.
- To look at long term debt in terms of the Act for the purpose of financial capital plans to achieve the constitutional objects of local government, including costs on re-financing existing long-term debt.
It is envisaged that Minister of Finance, SALGA-Gauteng Provincial Executive Committee (PEC), Municipal Public Accounts Committees (MPACs), Municipal Managers, Chief Financial Officers (CFO), Treasury Managers as well as Members of Mayoral Committee (MMC) responsible for municipal finance will attend the sessions.
You are hereby given an opportunity to partner with SALGA-Gauteng in hosting this historic event, through exhibitions or partnering with us as the event is the first of its kind for the organisation.
Details:
Date: 23 & 24 February 2012
Venue: St George’s Hotel, Pretoria
For more information pleasecontact Jacqueline Samson or Malebo Tau at 011 276 1150/ jsamson@salga.org.za/mtau@salga.org.za
