The departure of SAA CEO Vuyani Jarana, so soon after the resignation of his counterpart at Eskom, points to something systemic, and obvious: the current model of state-owned enterprises (SOEs) does not work. It hasn’t been working for a while.

Jarana’s bold resignation letter last week spelt it out. "It is impossible to succeed in the turnaround with the current level of bureaucracy we have to go through," he says. For an entity "in ICU" as Jarana put it, this is critical...

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