Financial boost for Mogale City as Council approves budget, Treasury grants debt relief

By Akani Nkuna

Mogale City mayor Lucky Sele has welcomed the Council’s approval of the 2024/25 Adjustment Budget, including the debt relief granted to the municipality by the National Treasury.

Sele described these developments as key steps toward financial stability and sustained service delivery.

“This debt relief, combined with the approved budget adjustment, marks a significant milestone in our efforts to strengthen the municipality’s financial position while enhancing essential services for Mogale City residents,” said Sele.

“The debt relief, which represents one-third of the municipality’s debt to Eskom, will be pivotal in easing the financial pressure on the municipality. This relief is a vital step towards ensuring that the municipality can continue to provide quality services to its residents without being hindered by overwhelming debt burdens.”

The 2024/25 mid-year adjustment budget is based on a projected revenue increase of R5 billion, with operating expenditure of R4.5 billion and capital spending