RUNNING ON EMPTY : Just 49 days of cash left — austerity measures introduced in the Bay

RUNNING ON EMPTY Just 49 days of cash left — austerity measures introduced in the Bay As cash reserves dwindle to less than 49 days, Nelson Mandela Bay introduced strict financial measures while grappling with the impact of withheld equitable share payments from the National Treasury and other serious financial issues. At around R28-billion, Nelson Mandela Bay has the highest UIFWE figure of any municipality in the country.The decision to withhold the equitable share from the metro comes as the municipality is already dealing with serious financial issues. It is collecting only about 70% of its rates, and operational issues in the electricity and water departments have caused both these trading services to run at a deficit.