Local News
Mangaung finances stable but under stress─── CATHY DLODLO 15:08 Tue, 28 Jun 2016
Bloemfontein - The finances of the Mangaung Metro Municipality is stable, but under tremendous stress as unemployment grows, revenue shrinks and the demand for service increases.
This is according to the State of South African Cities’ Report that was handed over to the leadership of the municipality this morning. The report by the South African Cities Network (SACN) looks at the state of nine cities – including their finances - in the country.
SACN CEO, Sithole Mbanga, says Mangaung is, however, not the only one facing these challenges.
"Mangaung has strong finances. It's challenged by the fact that the source of revenue is not increasing. Instead, it (the revenue) is decreasing or becoming stagnant. Because having a strong source of finance is a function of a good economy and at the moment the economy is challenged."
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