The City of Tshwane has set itself an ambitious target of reducing expenditure to R1-billion a month over the next six months. The Metro is still battling to get its finances in order and currently owes Eskom R3.9 billion.
Service delivery is continuing to worsen as it battles to collect revenue.
Briefing the media in Pretoria today, Executive Mayor Cilliers Brink has attributed the slow financial recovery to the 3-month-long salary increment strike last year which impacted revenue collection.
Brink says the City hopes to, among others, unlock and increase revenue by turning its R23 billion debtor’s book to cash.
“We have an advantage of a R23.2-billion debtor book we aim to turn into cash. If only a quarter of this debtor’s book is collectible, it will be collectible in the next 6 months. That is our aim. If it succeeds, we’ll improve our cash flow, improve our Eskom account, and boost our credibility and creditworthiness in the market.”
City Manager Johann Mettler outlining the steps the city has to make to remedy the financial position of the city#FinanceRecoveryPlan pic.twitter.com/dYUhWw2BvN
— City of Tshwane (@CityTshwane) February 12, 2024
