KwaDukuza and Hesseque top in the country on latest financial ratings
Financial ratings agency, Ratings Afrika has proclaimed KwaDukuza and Hesseque municipality in the Western Cape to be the most financially sustainable municipalities in the country.
The agency said in their 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.
KwaDukuza has maintained a consistent financial position over the past five years. 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.
Source: Ratings Africa
It is heartening to learn that KwaDukuza has done so well over the years. From around 2004 onwards, we were 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.
Ratings Afrika is a ratings agency that specialises in ratings and similar opinions gauging the soundness of governance in companies, State-owned enterprises, Municipalities, Provinces, Central governments.
Enquiries:
Sifiso Zulu
Cell: 076 129 8050
E-mail: sifisoz@kwadukuza.gov.za
Sphelelo Ngobese
Cell: 073 784 7822
E-mail: sphelelon@kwadukuza.gov.za
