State-owned companies in financial distress that have relied on government bailouts to remain afloat, will not be allocated any additional funding over the next three years as the government moves to rein in public spending.

The announcement by finance minister Enoch Godongwana in his maiden medium-term budget policy statement (MTBPS) is expected to be welcomed by economists and ratings agencies who have previously flagged the poor financial performance of state-owned enterprises  (SOEs) and their long-standing governance problems as risks to the country’s economic growth...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now