PROPERTY
NEWS HEADLINES
“A clear indication of the levels of rot at Nelson Mandela Bay Municipality was evident today, not in the residents discussion of it,” said Deirdre Fibiger, director of Property Network, “but in the clear absence of it.”
“Port Elizabeth is once again experiencing strike action and refuse not being collected but hardly anyone in their day to day passing discussions made mention of it,” she said. “Non performance by council has become yesterdays news, a fait accompli.”
Property Network carries grave concerns over the inability of many local municipalities to properly govern and manage the resources they have and the resulting impact on property values and investment.
“Another strike action over simple HR issues, another council meeting postponed and with it major decisions,” said Fibiger. “All of these issues symptomatic of an institution that has lost all capacity to govern with accountability.”
“It has been almost three years since the Kabuso report was issued and still no progress has been made to bring people to account,” she said. “The task team does not meet and council to all intents and purposes, through its inaction, has condoned the alleged fraud and corruption as well as the fact that there are millions owing to itself.”
It is the opinion of Property Network that the economy will begin to turn at a more positive rate by 2015 and those wishing to reap of the increased investor confidence need to position themselves now already. If our local councils continue on their current downward spiral we can hardly expect investors to favour the region.
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