On the 31st March 2021, municipalities completed a full calendar year of COVID-impacted budget implementation. According to the Municipal Borrowing Bulletin (March 2021 Issue);
Lenders reported a total of R68.5 billion in outstanding long-term borrowing by municipalities
New borrowing incurred so far in the current year was reported at R2.9 billion, which is about 26 percent of the budgeted amounts for the fiscal year.
Private sector investment in municipal debt obligations grew faster than investment by the public sector over the past twelve months.
See link to read article: http://mfma.treasury.gov.za/Media_Releases/Municipal%20Borrowing%20Bulletin/Pages/default.aspx