Ethical failures are to blame for the poor state of our SOEs
The research is in: state-owned enterprises function as poorly as public-sector organisations, write Paul Vorster and Nicole Konstatinopoulos
SA is in trouble. State-owned enterprises (SOEs), which have the responsibility to ensure that crucial services are provided to enable the critical functioning of the economy, are failing. One doesn’t have to look far to see the dire effect of load-shedding, ineffective rail infrastructure, or the numerous incidents of public looting and mismanagement at SOEs responsible for financial investment and development.
SAA, Prasa, Transnet, Eskom, Denel, the SABC and many others are fighting for their financial sustainability and have reneged on their core mandates. Many of these institutions blame strategic, financial or operational risks for their state of affairs. However, the one thing that all these organisations have in common is a lack of an ethical culture. ..
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