EDITORIAL: Negligent SOE directors must suffer the consequences
Public enterprises department is pursuing implicated directors with a view to holding them to account
12 December 2023 - 05:00
The judicial process of bringing to book those responsible for looting state-owned enterprises (SOEs) during the state capture years has been disappointingly slow, so it was encouraging to learn last week that the department of public enterprises is actively pursuing implicated directors to have them declared delinquent. They need to be held to account.
Such a declaration would require evidence that they were grossly negligent and failed to perform their fiduciary duties as required by the Companies Act. Criminal proceedings are also possible if the accused was actively complicit in the wrongdoing. ..
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