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Visionary R67.2 bn budget for eThekwini

Date: 2024-05-08 16:13:04

Visionary R67.2 bn budget for eThekwini

EThekwini Mayor Councillor Mxolisi Kaunda’s final budget speech unveiled a comprehensive strategy that reflects the aspirations and needs of the City’s diverse community. It further positioned eThekwini on a trajectory of sustained growth and development. He presented the City’s final budget of R67.2 billion earmarked for the 2024/2025 fiscal year at the Inkosi Albert Luthuli International Convention Centre on 3 May.

The final budget will chart a course towards a prosperous future, standing as a testament to the City’s resilience, innovation, and unwavering commitment to inclusive development. The culmination of extensive community engagement and stakeholder consultations has resulted in a financial blueprint that heralds a new era of economic vitality and inclusivity. By prioritising community feedback, investing in critical infrastructure, and fostering a conducive business climate, the Municipality lays a solid foundation for economic resilience, innovation, and shared prosperity. Acknowledging the indispensable role of community feedback, Mayor
Kaunda commended the active participation of residents, businesses, and various stakeholders in shaping the budgetary priorities. Tariff adjustments were meticulously tailored in response to public concerns, reflecting the Municipality’s dedication to equitable economic policies. 

Reduced electricity, property rates, water, sanitation, and refuse tariffs signalled a proactive move to ease financial burdens while maintaining essential services and infrastructure. Central to eThekwini’s economic resurgence are catalytic investments earmarked for infrastructure development and service delivery enhancement. With a dedicated capital budget of R7.68 billion, the Municipality pledges substantial allocations to critical sectors, including roads and stormwater management, electricity supply, water and sanitation infrastructure, waste management, human settlements, community services, and public transport. 

Noteworthy initiatives such as road rehabilitation, electricity network expansion, water infrastructure upgrades, and housing construction exemplify the Municipality’s proactive stance towards fostering sustainable urban development and improving quality of life. Recognising the pivotal role of the private sector in driving economic prosperity, Mayor Kaunda unveiled a comprehensive strategy to cultivate a conducive business environment. With an eye towards job creation and economic resilience, the budget allocates R728 million for the development of bulk  infrastructure to catalyse key projects and attract investments. Moreover, initiatives such as the introduction of rates rebates, support for small businesses, and investment in public transport infrastructure underscore the Municipality’s commitment to nurturing entrepreneurship and fostering inclusive growth.