“Smaller municipalities will be encouraged to borrow money.”
“There is ample scope for creditworthy municipalities with strong financial management to increase local capital investment by expanding municipal borrowing.”
“Municipalities are very cautious about long-term borrowing. Many intermediate cities and smaller municipalities with reasonably sound revenue bases are not taking advantage of long-term debt finance to invest in infrastructure. Government will help these municipalities to raise money on the market.”
Imagine the possibilities and potential for ALL the people of Grahamstown were we able to stand in the queue to borrow money for capital investment.
Crucial that every single member of the Grahamstown community (with support from friends around the world) acts with determination and perseverance to ensure our Municipality:
a) is credit-worthy
b) has strong financial management
c) has sound revenue base.