Ramaphosa promises to cut municipal debt in South Africa by 30%

• Ramaphosa's promise to cut municipal debt in South Africa by 30% is an attempt to address the country's long-standing debt crisis, which has been exacerbated by decades of mismanagement and corruption.
• The ANC's manifesto aims to reduce municipal debt by 30% by 2031, while also setting targets for municipalities to achieve clean or unqualified audit outcomes and improve service delivery.
• The ANC's plan to revamp the funding system and implement a finance-follows-function model may lead to increased transparency and accountability, but critics argue that it does not address the root causes of the debt crisis and may simply shift the burden to taxpayers.