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Project Phakama bites again

The City of Johannesburg has conceded it is unlikely to be able to collect more than two-thirds of the R18 billion owed to it by consumer debtors, and has impaired its debtors’ book by R13 billion.

The impairments, contained in the recently-released auditor-general’s (AG’s) report on the city’s last financial year, come at the same time as the AG found the city could not back up income due to it being based on estimated readings.

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Read the source article at itweb.co.za


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