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Red light is flashing on BCM finances

Opposition councillors say Buffalo City Metro is days away from financial collapse and accuse executive mayor Xola Pakati’s administration of misleading them on the true state of the city’s finances. Pakati came under fire on Friday after he presented an update to the council on the city’s financial status, which showed its cash reserves were under serious threat. ....

Xola Pakati , Aphiwe Deklerk , Buffalo City Metro , Comment Policy , Geoff Walton , Sakhumzi Caga , Sue Bentley , National Treasury , Eastern Cape , Ispatch Live In Eastern Cape , East London ,

No cash left for wards — yet BCM approves frivolous trips, says DA

Just after freezing R50m from its ward allocations because of financial woes, Buffalo City Metro has come under fire for authorising two trips for a sports event and a capacity-building session in an apparent demonstration of the metro’s failure to effectively implement cost-cutting measures. ....

Vuyolwethu Sangotsha , Buffalo City Metro , Comment Policy , Geoff Walton , Samkelo Ngwenya , Buffalo City , Covid 19 , Eastern Cape , Ispatch Live In Eastern Cape , East London ,

BCM test: Promises kept, promises broken

BCM mayor Xola Pakati will deliver his sixth state of the city address today, facing massive scrutiny from unhappy residents and a business community that has aired its many frustrations with the metro over the past year. There are a number of high-level and big-budget projects under way across the metro, but many question the validity of the metro and Pakati’s favourite hashtag on social media, “A City Hard At Work”. ....

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Billing woes highlighted as BCM's electricity and water losses surge

The Buffalo City Metro billing system has been brought under the spotlight yet again, this time by members of the opposition following combined water and electricity financial losses of R493.7m. The auditor-general (AG) recently tabled a report at a BCM council meeting for the year ending June 2021, which revealed that the metro incurred R368. ....

Andisa Bonani , Buffalo City Metro , Geoff Walton , Henri Smit , R125 5m , Gonubie Ratepayers Association , Municipal Finance Management Act , Eastern Cape , Ispatch Live In Eastern Cape , East London ,

Poor collection rate, rising costs threaten BCM financial stability

The stagnant revenue base and high rate of increase in operating costs is a threat to Buffalo City Metro's cash position. ....

Bonisile Ndaliso , Buffalo City Metro , Operating Costs , Revenue Base , Geoff Walton , 2nd Increase , Sd18122021 Pg4 , Xola Pakati , Eastern Cape , Ispatch Live In Eastern Cape , East London ,