South Africa's Infrastructure Reform Package for Metros
Johannesburg News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
South Africas National Treasury unveils a reform package for eight major metros, aiming to enhance infrastructure spending. Over three years, a trillion rand budget is allocated, with municipalities managing two hundred five billion rand for transport, water, and energy. The reforms emphasize national government involvement, new laws, stricter budget enforcement, and improved financial controls. Key changes treat services as businesses, ensure revenue protection, and address skewed spending. Fifty-four billion rand in performance bonuses are introduced, unlocking over one hundred billion rand in private loans and investments for city upgrades.
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