Reserve Bank governor Lesetja Kganyago can be a very funny man. A decade ago, as director-general of the National Treasury, he told parliament’s finance committee that he was fed up with answering for the sins of SAA: “They must answer for themselves.”

Sceptical about “tough love” conditions for bailouts, he said state-owned enterprises (SOEs) resemble heavy drinkers looking for a fix. Give them something today and they may go away for a while, but “I have been long enough in the Treasury to know that they will come again for more”...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.