City of Windhoek Reduces Debtors' Book to N$869 Million
The City of Windhoek has successfully reduced its total debtors' book to N$869 million as of March 31, a decrease from the N$888 million recorded at the end of the previous financial year. Mayor Sakaria Uunona announced this development during an ordinary council meeting, highlighting it as a sign of gradual progress in enhancing the municipality's financial sustainability. Alongside the reduction in the overall debtors' book, arrears also declined from N$650 million to N$626 million during the same period. Mayor Uunona emphasized that these figures reflect improved financial discipline and revenue management. Additionally, the council is making significant headway in negotiations with the central government regarding a debt and land swap arrangement linked to a N$716 million government loan. The successful completion of this deal is expected to boost the council's liquidity, improve its current ratio from 1.13 to 1.80, and create financial space for infrastructure investment and service expansion. These measures aim to strengthen the city's institutional resilience and ensure sustainable service delivery for residents.
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City of Windhoek Reduces Debtors' Book to N$869 Million
The City of Windhoek has successfully reduced its total debtors' book to N$869 million as of March 31, a decrease from the N$888 million recorded at the end of the previous financial year. Mayor Sakaria Uunona announced this development during an ordinary council meeting, highlighting it as a sign of gradual progress in enhancing the municipality's financial sustainability. Alongside the reduction in the overall debtors' book, arrears also declined from N$650 million to N$626 million during the same period. Mayor Uunona emphasized that these figures reflect improved financial discipline and revenue management. Additionally, the council is making significant headway in negotiations with the central government regarding a debt and land swap arrangement linked to a N$716 million government loan. The successful completion of this deal is expected to boost the council's liquidity, improve its current ratio from 1.13 to 1.80, and create financial space for infrastructure investment and service expansion. These measures aim to strengthen the city's institutional resilience and ensure sustainable service delivery for residents.
The Namibian