Irresponsible approach to our shameful SOEs has to stop
Besides there being too many SOEs, we need to keep only the large and strategic ones and ensure they have a broader shareholder base
Over the past few months, South Africans have been deliberating over the shameful misfortunes that have engulfed the country’s state-owned entities (SOEs). For the first time since the end of the apartheid era the country has experienced a massive degeneration of its SOEs, characterised by a steady destruction of shareholder value. As such, our SOEs have now reached their road to Damascus.
The economic contraction SA’s SOEs are experiencing is driven by our own attitudes and actions — such as the “let the rand fall and we will pick it up again” attitude. This calls for the implementation of an urgent SOE reform programme that will serve as a catalyst for the country’s economic growth and broad-based economic developmental agenda...
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