PREMIUM!

Taxpayers are sick of bailing out SOEs, Ramaphosa

Editorials 8 months ago

There’s no doubt swift action needs to be taken to put a stop to this mess.


10 Dec 2019
PREMIUM!
Taxpayers are sick of bailing out SOEs, Ramaphosa

Metrorail trains. Picture: ANA

President Cyril Ramaphosa raised many an eyebrow when he started the day insisting government won’t give up on our struggling state-owned enterprises (SOEs). Hours later, Transport Minister Fikile Mbalula dissolved the interim board of Prasa and placed the cash-strapped SOE under administration with immediate effect – days after SAA, another SOE in serious financial trouble, was placed in business rescue. “The resolve we have shown in putting SAA into business rescue cuts across all key SOEs. Whether it is Transnet or Eskom, Denel or Prasa, we are taking all necessary measures to turn them around,” Ramaphosa said in his weekly...

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