State-owned enterprises continue to bleed money, MPs told
Treasury paints a dire picture of their performance despite bailouts
14 February 2024 - 20:33
The government continues to spend billions bailing out state-owned enterprises (SOEs) while they “bleed money” and miss profit targets, the Treasury told the appropriations committee in parliament on Wednesday.
The losses that Land Bank, Eskom, arms manufacturer Denel, SAA, the Post Office and Transnet accumulated in the first nine months of the 2023 financial year were detailed to the committee. ..
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