A complete overhaul of state-owned enterprises (SOEs) is on the cards, President Cyril Ramaphosa promised in his state of the nation address (Sona) in Parliament, on Friday evening. Decisive action would be taken to stabilise and revitalise these enterprises, he said, with the recent action taken at Eskom to strengthen governance, root out corruption and restore its finances being "just the beginning”. “We will need to confront the reality that the challenges at some of our SOEs are structural − that they do not have sufficient revenue streams to fund their operational costs. “These SOEs cannot borrow their way out of their financial difficulties and we will therefore undertake a process of consultation with all stakeholders to review the funding model of SOEs and other measures," Ramaphosa said. “We will change the way that boards are appointed so that only people with expertise, experience and integrity serve in these vital positions. We will remove board members from any role in ...

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