In July 2014, i blogged that Knysna Municipality had taken R15-million in loans and that they would have to pay back R30-million after interest. Round the same time, they also applied for, and gained, a R5-million overdraft facility. It was an interesting statement of distrust that some banks wouldn’t even compete to give us the loans i.e. Knysna’s finances are not solid. Today, at the Finance Committee Meeting, the matter of loans was raised again. Councillor Elrick van Aswegen inquired why R3-million worth of loans hadn’t been spent so late … Read the full article…