SOEs unlikely to meet debt obligations and may need further support, says Mboweni
The total debt maturing between 2021/2022 and 2024/2025 for the 10 largest SOEs that borrow is estimated to be R298.9bn
Several, large, state-owned entities (SOEs) are unlikely to meet their future debt obligations and might have to rely on the fiscus, finance minister Tito Mboweni said on Wednesday.
SOE’s medium-term debt redemptions were highlighted by the Treasury in the February Budget Review as one of the risks to the government’s fiscal framework credit ratings agencies are sceptical will be maintained. Eskom’s debt now totals R401bn, while other SOEs, such as Denel, are also heavily indebted...