City of Cape Town named ‘best financially managed metro’

20 April 2016

On Wednesday, 20 April 2016 we, the City of Cape Town, were named the best metro for financial management by Ratings Afrika. This award was based on a survey of all South African metros.

We have committed ourselves to being a well-run city and have prioritised prudent financial management.  We have proven that this leads to increased financial stability, attracting business investment and creating job opportunities.

Mayor Patricia De Lille is very proud of how well our City did, saying “Cape Town scored 75 – the highest out of all metros – with Johannesburg scoring 37, Ekurhuleni scoring 70, Tshwane earning 24, Nelson Mandela Bay scoring 58, eThekwini scoring 50 and Buffalo City rated at 73.”

The score is based on our City’s 2014/2015 financial statement as analysed by Ratings Afrika which, according to their website, is ‘a ratings agency that specialises in ratings and similar opinions gauging the soundness of governance’ in companies, state-owned enterprises, municipalities, provinces, and central governments.’

‘Ratings Afrika said that the best-performing municipalities like Cape Town have well-entrenched financial policies and budgets based on sound long-term financial strategies while adhering to good budgetary practices, strict financial control, and good revenue collection,” said De Lille.

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Published by:
City of Cape Town, Media Office