Development finance institution Development Bank of Southern Africa (DBSA) has introduced a new financing instrument called Project Vumela, which blends municipal revenue sources with financing from development finance institutions and commercial finance. Revealed in the 2024 Budget Review on February 21, National Treasury said that Project Vumela would be aimed at raising funds for bulk infrastructure required for services such as water, sanitation, roads and stormwater, electricity and solid waste, without affecting the borrowing capacity of municipalities.
