The CFO explains that, despite the impact of Covid-19 and the civil unrest, revenue collection is back on track.
eThekwini municipality has maintained a healthy bank balance and credit rating for the 2021 financial year, despite the impact of Covid-19 and the civil unrest in July.
The group reported that when the pandemic broke out in 2020, Durban lost R7 billion of foreign direct investment and revenue collection fell to 56 percent within months. However, CFO Sandile Mnguni explains that, through relief measures, revenue collection is back at 94 percent.
But, while the results are looking better, Sandile says that the old water and sewerage infrastructure remains a concern. “Part of the decision that was made by the leadership is that we need to prioritise both water and sanitation. Some of sanitation’s infrastructure is old and ageing, therefore we need to renew some of it.”
He adds that the municipality will be focusing on the two priorities that the water department has identified in terms of renewal for this year.
