Ebrahim Patel calls for ‘full and swift’ response to state firms’ governance troubles
Economic Development Minister Ebrahim Patel has urged that issues of governance and integrity within state-owned companies and public institutions be addressed fully and swiftly.This was essential, the minister stressed on Monday, in order to boost confidence within communities and among investors. Allegations of state capture by the Guptas and their associated companies have been piling up over recent weeks, against Eskom in particular. These have damaged the country’s reputation and placed it at risk of a further downgrade by credit ratings agencies, which have been keeping a close eye on the governance and financial sustainability of state-owned enterprises.Patel was responding to a parliamentary question by DA spokesman on economic development Michael Cardo, who wanted to know what steps Patel’s department was taking to ensure the economy did not suffer further consecutive quarters of negative growth. As far as this his own department and the agencies it oversees were concerned,...
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