Public enterprises minister Pravin Gordhan is a man of integrity. He stood against the brazen corruption of the Jacob Zuma mafia, though, like the rest of his group, admittedly too late to spare the country a crisis.

This notwithstanding, Gordhan is also profoundly unrealistic when it comes to his portfolio. He remains attached to a model of public ownership that is unfounded in economics, profoundly non-performing, can only lead to vast corruption, and is ruinous to the Treasury and country. Faced with the systemic failure of the majority of state-owned enterprises (SOEs), he is unwilling, and perhaps unable, to truly reckon with the causes and consequences of the terminal crisis he is now tasked with solving. The bare-knuckled truth is that he is failing, at grave cost to SA...

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