eThekwini’s strong financial profile is underpinned by its relatively moderate gearing and high cash holdings. Thus, gross debt has remained in the R8bn to R9bn range over most years under review, with cash holdings trending around R6bn. As the Metro utilised internal resources to meet operating costs during the hard lockdown, cash decreased to around R4.5bn at FY20, although cash holdings have rebounded to around R5.3bn at FY21.
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