CITY OF CAPE TOWN SCRAPS DEPOSITS FOR MUNICIPAL SERVICES:

The City of Cape Town has scrapped deposits for municipal services such as electricity, water, etc.

According to People’s Post 3 July 2014, “Homeowners will be credited with the original (Electricity) deposit amount they paid at the time of applying for the service connection.”

This is indeed to be welcomed.

However, we are entitled to the interest accrued as well. For example, it is already established in law that interest is earned on rental deposits.

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