Successive losses show SOE turnaround plans ineffective, says auditor-general
23 November 2022 - 23:01
The government is exposed to guarantees of R328bn with several state-owned enterprises (SOEs) at risk of defaulting on their debts, which would put additional strain on the fiscus, auditor-general Tsakani Maluleke said on Wednesday.
The shambolic financial situation of most SOEs are a headache to the fiscus. Finance minister Enoch Godongwana has told them to “jack up their own capacity” and bring in the private sector if they want to receive bailouts from the state to boost their ability to invest in public infrastructure...
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