Provincial Treasury and City of Tshwane meet to discuss the capital’s financial turnaround plans

Thapelo Molefe

Gauteng finance MEC Lebogang Maile on Tuesday held a meeting with the City of Tshwane mayor Nasiphi Moya in a desperate attempt to bring stability to the capital, and to improve service delivery and maintain financial recovery.

The meeting also sought to make a comprehensive assessment of the role that the provincial treasury should play in stabilizing the finances of the city as a means of improving its audit outcomes and financial governance.

“The City of Tshwane is facing significant financial challenges, and it’s imperative that we work together to address these issues,” Maile said. 

“Our meeting today marked the beginning of a collaborative effort to stabilise the city’s finances and ensure good governance.”

Maile stressed that immediate fiscal prudence, including reducing non-essential spending, would be necessary to improve the City’s financial standing.

According to City of Tshwane, its debtor’s book has increased to a staggering R24.340 billion,