City of Windhoek cuts debtors’ book to N$869 million

The City of Windhoek has reduced its total debtors’ book to N$869 million as of 31 March, down from N$888 million recorded at the close of the previous financial year.

This signals gradual progress in improving the municipality’s financial sustainability.

This was revealed by the city’s mayor, Sakaria Uunona, during the ordinary council meeting on Thursday evening.

During the same period, arrears declined from N$650 million to N$626 million.

“These figures demonstrate gradual but meaningful progress in strengthening financial discipline, improving revenue management and restoring the municipality’s fiscal sustainability,” Uunona said.

He added that the council has made meaningful progress in its engagements with the central government regarding the debt and land swap arrangement linked to the government loan, which currently stands at N$716 million. Nearly half of this amount is attributed to accumulated interest.

According to Uunona, the successful conclusion of the arrangement will improve the council’s liquidity position and create greater financial space for infrastructure investment, service expansion and long-term urban development.

He said the transaction is expected to improve the council’s current ratio from N$1.13 to N$1.80 for every dollar of current liabilities, significantly strengthening the city’s financial standing and institutional resilience.

“These developments place the City of Windhoek on a stronger and more sustainable footing to meet its obligations, protect essential service delivery and advance a responsive, developmental and economically resilient municipality for all residents,” he said.

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