SARS 2026/2027LIVERepo Rate7.50%Prime Rate11.50%USD/ZAR~18.40VAT Rate15%UIF CeilingR17,712Tax ThresholdR99,000SARS 2026/2027LIVERepo Rate7.50%Prime Rate11.50%USD/ZAR~18.40VAT Rate15%UIF CeilingR17,712Tax ThresholdR99,000
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KwaZulu-Natal · local municipality · AGSA 2022/23

Ray Nkonyeni (Margate)

Unqualified with FindingsFinancially Distressed

Ray Nkonyeni (Margate) in KwaZulu-Natal received an Unqualified audit with findings from the Auditor-General for 2022/23 — the financial statements were reliable, but the AGSA still flagged compliance or performance issues. Its finances are classed as distressed (Financially Distressed). The AGSA flagged a regression from a previous, better audit outcome.

AGSA 2022/23 record

Audit outcomeUnqualified with Findings
Financial statusFinancially Distressed
CategoryLocal municipality
ProvinceKwaZulu-Natal
Population servedNot available
Debt-to-revenue ratioNot available
Eskom arrearsNot available
Water board arrearsNot available

AGSA notes

Regressed from clean audit in 2022/23. Notable deterioration flagged by AGSA.

Source — AGSA MFMA 2022/23

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Other municipalities in KwaZulu-Natal

eThekwini (Durban)Qualified with FindingsMsunduzi (Pietermaritzburg)Qualified with FindingsNquthuQualified with Findings
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Coverage: This tracker currently covers 26 of South Africa's 257 municipalities, based on verified AGSA and Treasury records. We do not publish estimated or unverified data for municipalities outside this set. Full national data is at mfma-2024.agsareports.co.za.