Municipal Funds | National Treasury ready to release equitable share

Municipalities will start receiving their withheld July equitable share transfers from the National Treasury starting this Friday, the 31st of July.

This follows a thorough compliance assessment after funds were temporarily frozen due to widespread failure to meet financial management regulations.

Addressing the media, Finance Minister Enoch Godongwana announced that 20 municipalities have already received their full shares, while 49 others will receive their outstanding allocations at the end of the week.

The Minister emphasised that while funding is crucial for salaries and basic services in poor communities, the money comes with strict conditions.

For more on this we are joined by the Minister of Finance Enoch Godongwana.

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