Financial crises looming for Nelson Mandela Bay Metro

The Nelson Mandela Bay Business Chamber has expressed its concern by the city Council’s continued failure to appoint key personnel to vacant positions, especially the position of CFO.

This is despite National Treasury having gone on record to say that the failure to appoint a permanent CFO, before the end of August 2019, would affect the approval of any roll over applications for unspent conditional grants.

Should this happen, it would place tremendous pressure on the Metro’s financial viability – leading to further non-performance on critical service delivery areas.

“The city’s political leadership needs to urgently fast-track this appointment, to avoid further dysfunction in the Metro.

All the role players need to recommit towards rebuilding the city and putting the best interests of its people first,” said the Business Chamber in a statement.

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About R 460 million of unspent grant money is at risk of being returned to National Treasury due to the Metro not having a permanent Chief Financial Officer.

Photo: Stan Blumberg

 

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