SOEs can be fixed, say the CEOs of some of the ailing enterprises
SAA's Jarana believes the airline can be turned around despite it posting losses since 2012
CEOs of some of SA’s ailing state-owned enterprises (SOEs) believe the entities are fixable if there is political will to transform and put more competent boards in place. They were speaking during a discussion hosted by Deloitte on whether reforms proposed by the Treasury to increase private sector participation could help turn around some of these fiscal-dragging businesses. Evidence presented at the Zondo commission of inquiry has shown how SOEs, including Eskom and Transnet, had become instruments that facilitated state capture and looting by certain ministers and private individuals. The Treasury, which is working on a framework to transform SOEs, on Wednesday said once it has stabilised these entities in the next six to 12 months, it will start enforcing some of the proposed reforms which include merging some, closing those that no longer serve their purpose, and increasing private participation. SA Airways CEO Vuyani Jarana said “SOEs are fixable” if SA can see the tra...
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