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Poor Financial Management Makes Tshwane’s Plan for Affordable Housing Risky

The Tshwane Metro’s plan to soon conclude an agreement with the Social Housing Regulatory Authority (SHRA) to promote affordable rental housing may seem positive at first glance, but the Metro’s poor track record when it comes to project and financial management makes it a risky undertaking. Examples include the incomplete Clarina housing development, R336 million […]

The post Poor financial management makes Tshwane’s plan for affordable housing risky appeared first on Freedom Front Plus.

The Tshwane Metro’s plan to soon conclude an agreement with the Social Housing Regulatory Authority (SHRA) to promote affordable rental housing may seem positive at first glance, but the Metro’s poor track record when it comes to project and financial management makes it a risky undertaking.

Examples include the incomplete Clarina housing development, R336 million in irregular expenditure in addition to ongoing problems with rental collection. These failures point to deep-rooted shortcomings in the Metro’s internal management systems.

On top of that, contraventions of the Municipal Finance Management Act (MFMA) – particularly relating to supply chain management – have further exposed the lack of contract oversight and irregular procurement practices.

Unless the Metro Council intensifies its internal control measures, stabilises leadership and complies with MFMA requirements, a binding agreement with the SHRA will expose Tshwane to serious financial and legal risks.

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