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[LISTEN] How SA’s major banks will help govt with ailing SEOs

Cas Coovadia, managing director Banking Association of South Africa, spoke to Talk Radio 702’s Bruce Whitfield.

JOHANNESBURG – Government and the financial sector have agreed to work together to find solutions to restructuring state-owned enterprises (SOEs).

Public Enterprises Minister Pravin Gordhan and the Treasury held a meeting with heads of major banks and asset managers to help bring SOEs back to health.

Cas Coovadia, the managing director Banking Association of South Africa (BASA), spoke to Talk Radio 702’s Bruce Whitfield. He says this will be a collaborative effort.

“Significant harm has been caused in the last few years and we need to do quite a lot of work together as a society to actually get these SOEs into a sustainable position.”

Listen to the audio above for more.

(Edited by Thapelo Lekabe)

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