City Risk Monitor shows municipalities are in financial distress, weakening investor confidence [SOUND]

# South Africa’s major municipalities are facing severe financial pressure, driven by an inability to manage debt, crumbling infrastructure, and a lack of long-term administrative planning. This is according to the Paternoster Group’s City Risk Monitor, which assessed the country’s eight metros, plus Mbombela and Polokwane. Four risk areas were evaluated: financial sustainability; infrastructure and services; the development environment; and political/institutional risk. Paternoster Group founding partner Lawson Naidoo told Polity.org, that structural and financial deficiencies are actively restricting economic growth and weakening investor confidence: