KwaDukuza municipality, together with Hesseque municipality in the Western Cape, have been rated as the most financially sustainable municipalities in the country.
Financial ratings agency, Ratings Afrika said this 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 and 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,” said KwaDukuza mayor, Ricardo Mthembu.
“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. 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.
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