Nelson Mandela Bay risks losing millions in critical grant funding, ratepayers are not happy

Barely a month since National Treasury cut R430 million in grant funding from the Nelson Mandela Bay Municipality, due to underspending, it is at risk of again losing hundreds of millions of rand in critical grants - and this could lead to a massive blow to service delivery and housing projects.

Last week, the municipality's capital budget spending was standing at 54% and, with only six weeks left until the end of the financial year, it seems highly unlikely the budget will be completely allocated by the end of June. With the overall capital budget exceeding R1 billion, and more than R570 million already spent, the metro will lose just over R400 million if it is not allocated fast - and ratepayers are not happy.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.

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