Godongwana tells SOEs: get your act together
Bring in the private sector if you want more bailouts, finance minister says in interview after medium-term budget
State-owned enterprises (SOE) “must jack up their own capacity” and bring in the private sector if they want to receive bailouts from the state to boost their ability to invest in public infrastructure, finance minister Enoch Godongwana said on Wednesday after a medium-term budget in which he granted Transnet, Sanral and Denel a total of R33bn to repair their ailing balance sheets.
The minister took advantage of a revenue overrun of R106bn and much better-than-expected deficit and debt figures to allocate cash to the SOEs, as well as to lift government spending on economic infrastructure and law enforcement...
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