Development Strategies in the Ethekweni ( Durban ) Municipality of South Africa Considering Financial and Accounting Practices for Growth and Job Creation

Abstract

The eThekwini Integrated Development Plan is a five year plan which consists of strategies that the Durban municipality intends on adopting to drive development in the city. It outlines programs concerning the way the municipality wishes to achieve its objectives of transforming Durban into Africa’s most caring and livable city by the year 2020 (eThekwini Municipality, 2010: 5-6). The 2010/2011 IDP focuses on transforming the municipalities’ vision and plans of the city into implementation and action by considering financial intervention possibilities and sound accounting practices for purposes of job creation by using a host of developmental variables. This review is the final review which realizes that the previously, the municipalities strategies, implementation and action have not reached its desired effect (eThekwini Municipality, 2010: 200). Hence there has been a revision of its eight point plan to achieve optimal efficiency. This paper, attempts to assess whether the IDP 2010/2011 has the potential of achieving economic growth and development in Durban. Although the document outlines an eight point plan to guide their actions towards achieving their desired outcome, the paper will further assess one of these plans by assessing whether its Economic Development Strategy would result in economic growth and development in the city. The paper therefore will discuss these issues in terms of development, finance and sound accounting practices that are required to consolidate the efforts of the Ethekwini Municipality in terms of economic development, growth and the creation of jobs.