DA: Stop bailing out State enterprises

Maimane says private capital funding is the way to go for Eskom and SAA.

Mmusi Maimane. Picture: Aletta Gardner/EWN.

CAPE TOWN - The Democratic Alliance (DA) is urging government to stop bailing out State-owned enterprises such as Eskom and South African Airways (SAA).

The party says the Special Investigating Unit has estimated more than R30 billion is wasted annually on unnecessary expenditure.

DA parliamentary leader Mmusi Maimane believes private capital funding is the way to go for the power utility and SAA.

Maimane says continuously bailing out these state-owned enterprises is a massive waste of taxpayers' money.

"The irony is that the majority of these enterprises are actually blocking the country's development."

He reiterates South Africa's economy is under massive strain as inflation has increased and government debt has ballooned.

The opposition party is urging Finance Minister Nhlanhla Nene to take a decisive stance and curb wasteful expenditure.