Based on this report, the best way to reduce financial mismanagement in government is to have a robust opposition.
Financial management of municipalities improved considerably in areas where the ANC is pressured by the opposition, audit figures released at parliament by auditor-general Terence Nombembe reveal.

The highly contested areas of KwaZulu-Natal - where the IFP still holds the bulk of municipalities - and the Western Cape, where the DA and ANC have about equal shares of the municipalities, are the areas where municipal financial management tends to be good.

While Nombembe draws no political connection between municipalities performing well and the political control of municipalities, he does report that the financial statements of municipalities in the provinces of Eastern Cape, Free State, Limpopo, North West and Northern Cape "have the greatest number of disclaimer of opinions, while the majority - six out of nine - of those that received adverse opinions were from the Eastern Cape". All six - which include OR Tambo and Chris Hani - are ANC-ruled municipalities, with unassailable electoral majorities.
full story from Business Report here
Or maybe the lesson to be learnt is - don't vote ANC?