JUSTICE MALALA: SOEs and the big turnaround lie
The problem with our parastatals is the shareholder: it hasn’t the will or the backbone to take the tough decisions
How long does it take to turn a large company around from loss to profitability? Most executives would allow themselves three years, I suspect, and that’s really giving oneself serious slack. Most boards of listed companies would be happy to see tangible signs of a turnaround after three quarters.
It’s a totally different ball game in our government. There is no sense of urgency. It is taking an awfully long time to turn some of the government’s cash-guzzling entities around. Why is this? Surely there aren’t any warring factions at those businesses stopping their restructuring?..