Treasury announces major overhaul of SA's municipal finance laws - EWN

The National Treasury is proposing major reforms to municipal finance legislation to ensure fiscal discipline in local government.

The proposed changes in the law include the National Treasury taking over the appointment of chief financial officers (CFOs) to ensure the right people are appointed.

This was one of the reforms announced by Finance Minister Enoch Godongwana when he tabled the Medium-term Budget Policy (MTBPS) Statement on Wednesday.

Treasury announced a major overhaul of the country’s municipal finance laws.

This will include modernising both the Public Finance Management Act and the Municipal Finance Management Act to help tackle financial misconduct.