Kaunda optimistic despite eThekwini’s financial woes
eThekwini Mayor Mxolisi Kaunda began his State Of the City Address by attempting to paint an optimistic financial picture for the city.
In January, the auditor general's office revealed that eThekwini's irregular expenditure in the 2021/22 period ballooned to R1.5 billion.
It was a 94% increase compared to the year before.
Kaunda was speaking at the Inkosi Albert Luthuli International Convention Centre on Wednesday.
READ: eThekwini still in the dark over missing R30m flood relief
"We are mindful of the challenges that the AG highlighted, which include irregular expenditure in our municipality.
"We are currently implementing the audit turnaround strategy to address the matters that have been raised by the AG with a view of achieving a clean audit and we are going to achieve a clean audit.
"Despite the current economic climate, we have been able to maintain an AA+ investment grade credit rating with 60 days cash on hand."
Mayor Kaunda enters the venue with the SOCA address expected to get underway a short while from now with delegates expected to attend including KZN Premier Nomusa Dube-Ncube and business tycoon Vivian Reddy among others. @SteveBhengu pic.twitter.com/hLZ0qQocO9
— ECR_Newswatch (@ECR_Newswatch) April 26, 2023
Following a 2 hour delay eThekwini Mayor Mxolisi Kaunda finally takes to the podium to deliver his State Of the City Address. @SteveBhengu pic.twitter.com/toalbq5uMN
— ECR_Newswatch (@ECR_Newswatch) April 26, 2023
