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Finance News

The City of Cape Town has recently introduced a proposal to offer once-off debt scrapping for financially distressed ratepayers.

The proposal (which is still in the early phases of being discussed) seeks to support residents who are struggling to keep up with municipal bills by granting a once off write off of some or all outstanding debts.

As yet, there is no information on exactly who would be eligible, how much could be written off and how people would be able to apply.

What is clear though is that the city is determined to find some way to help residents, similar to how other municipalities across SA have done (such as how eThekwini offered 50% off water debts).