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Over the past 12 months, this bold step has unlocked unimaginable returns, where an additional annual amount of R243 million is currently being billed and received for rates and services at new residential and commercial developments. This just about equals our bank loan repayments.
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Bold step pays off This spurt of growth and development has been made possible through the Municipality’s earlier bold step to take up substantial external loans to invest in bulk infrastructure and ensure that development opportunities are unlocked in the area.
Between 2016 and 2021, the Municipality invested almost R1.6 billion in infrastructure. This included R454 523 290 spent on roads and electricity infrastructure; R408 727 779 on water networks, water treatment works, and reservoirs; and R689 938 125 on wastewater treatment works, sewer network upgrades, and solid waste infrastructure.
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VARS | November
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