SA SOEs bleed billions despite government rescue efforts
South African state-owned entities Eskom, Sapo, and Transnet have faced significant financial challenges over the past three years…
South African state-owned entities Eskom, Sapo, and Transnet have faced significant financial challenges over the past three years…
Eugene Brink says, apart from a change in Government, only some form of privatisation would be able to save many of the country’s SOEs.
There’s a fight brewing between an Eskom Board member who questioned BEE procurement rules and the Black Business Council.
Taxes in the major revenue generating categories, such as personal income tax, VAT and the general fuel levy weren’t increased.
SA asked for assistance in gathering evidence related to the Gupta’s, who’ve been accused of using links with Jacob Zuma to secure deals to loot SOE’s.
“The restructuring is unavoidable in light of reduced demand from its airline customers, SAA Technical said in a statement.”
South Africa’s Treasury is likely to announce additional funding for state arms company Denel and the Land Bank in this week’s budget.
Eskom has admitted to exceeding stage 4 load-shedding limits; energy advisor Ted Blom said this shows the power utility is lying.
SAA – which needs R10-billion to resume operations – has been the topic of conversation between government and interested potential investors.
SA’s economy is in tatters, partly because of Covid-19, but largely because it has been mismanaged for more than a decade, as the OECD report highlights.