A Treasury presentation to parliament this week highlighted the spectacularly terrible financial record of SA’s state-owned enterprises (SOEs) and the cost to taxpayers. 

Just in the past three years the government has bailed out six failing SOEs to the tune of R281bn. That is not counting an additional R24bn for the SA National Roads Agency, which was not included in the Treasury’s presentation, presumably because it was a supersized Gauteng toll payment rather than a bailout as such. ..

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