The prevailing economic crisis sweeping through SA is a direct result of economic mismanagement, largely shaped by the looting of state-owned enterprises (SOEs). Many are in deep trouble. Sheer incompetence and corruption has pushed entities such as South African Airways (SAA) and the South African Broadcasting Corporation (SABC) closer to financial collapse. Serious questions are being asked about the legality of multi-billion rand procurements at Transnet and the state power utility Eskom. The scale of the problem has been brought into sharp relief in recent weeks by two developments that show corruption in SOEs has been unfolding for years. The first was the release of a report written by academics: Betrayal of the Promise. The second was the leaking of 200,000 e-mails that point to dubious links between the Gupta family, senior politicians and officials. The country stands to slip deeper into crisis unless the lust for loot is stopped. The economy is already in deep trouble. It’...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.