Govt state owned entities
Opposition parties dismayed by SAA’s costly allocation from govt
The DA says Finance Minister Tito Mboweni has abandoned his commitment to stop costly cash lifelines.
Deputy Public Enterprises minister Phumulo Masualle said Eskom’s financial position is weaker due to loss of revenue as businesses, municipalities and households battle to pay their bills.
President Cyril Ramaphosa’s meeting comes as the African National Congress on Tuesday described the situation at Eskom and South African Airways as a crisis, after the CEOs of both SOEs resigned.
Deputy President David says government’s commitment to root out graft in state institutions is not just rhetoric, and this is the year government will turn the tide on corruption.
Finance Minister Malusi Gigaba revealed that government is still planning to sell its stake in Telkom to aid ailing parastatals such as South African Airways (SAA).
The Transport Minister says the presidential review commission identified several shortcomings in state-owned entities.
The government has extended more than R450 billion in loan guarantees to help out ailing parastatals and Gigaba says this is a significant risk.
The ratings agency has reiterated many of South Africa's parastatals are too dependent on government for financial help.
S&P Global says while it anticipates improved economic conditions for SA, the expected growth rate of between 1.3% and 1.5% remains disappointing.
The Public Enterprises Minister says the state-owned enterprises that fall under her department are helping grow the economy.
An academic says wasteful expenditure by state-owned entities should be the focal point of the upcoming Budget speech.
Staff at Petro SA were reportedly told that they would not be receiving bonuses for a second year in a row.
S&P Global says while it’s taken comfort from Treasurys’ targets, the political situation remains a concern.
Yesterday, Zuma said government has taken measures to revitalise troubled state-owned enterprises.