Ramaphoria vs. Ramareality - and the hard truth about SOE bailouts

When President Cyril Ramaphosa delivered his maiden State of the Nation address, he made it clear that the government could no longer afford to bail out inefficient and loss-making state-owned enterprises.

The gross financial mismanagement and corruption surrounding Eskom in particular is without question one of the greatest contributors to the financial and economic predicament that our economy faces.Equally, ongoing financial, operational and governance issues experienced in other SOEs such as Transnet and SAA have placed additional unnecessary pressure on the fiscus and impacted on the performance of the economy.

Similarly, recent allegations that the Public Prosecutor Busisiwe Mkhwebane is investigating Ramaphosa for alleged money laundering and her ongoing and seemingly baseless pursuit of public enterprises minister Pravin Gordan’s relationship with the so-called rogue unit at the SA Revenue Service suggest that there is a great deal at stake for those on the wrong side of the former president.

Another step towards laying the foundation for increased accountability and sustained institutional reform was the appointment of Shamila Batohi as the head of the National Prosecuting Authority. As much as we are aware of how financial mismanagement and corruption costs our economy, the real injustice lies in the lack of accountability to those responsible for it and the ultimate consequences that we all have to bear.

This has in many cases had a direct and negative effect on internal and external attempts at cracking down on corruption in the civil service.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jacob Zuma: The time has come to speak the truthFormer president appears before the Zondo commission of inquiry into state capture
Source: BDliveSA - 🏆 12. / 63 Read more »

Jacob Zuma: The time has come to speak the truthFormer president appears before the Zondo commission of inquiry into state capture
Source: BDliveSA - 🏆 12. / 63 Read more »

SA firebrands: these are the companies with grit for hard timesSA firebrands: these are the companies with grit for hard times 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Moyo vs. Old Mutual: 7 key factors as they head to courtEx-Old Mutual CEO Peter Moyo heads to court to challenge his dismissal by the financial giant on Tuesday.
Source: News24 - 🏆 4. / 80 Read more »

Gordhan vs. Mhkwebane: Malema joins court case
Source: News24 - 🏆 4. / 80 Read more »