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South African banks have long treated municipalities as transactional clients looking for deposit accounts, lending facilities and transaction fees. But as local government implodes under technical insolvency, revenue collapse and governance failure, this mode...
South African banks have long treated municipalities as transactional clients looking for deposit accounts, lending facilities and transaction fees. But as local government implodes under technical insolvency, revenue collapse and governance failure, this model is no longer tenable.
This summary is based on reporting by Daily Maverick.
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