New York, USA - March 1, 2020: South African Airways Airbus A350-900 airplane at New York John F. Kennedy airport in the USA. Airbus is an aircraft manufacturer based in Toulouse, France. Picture: iStock
Ndou said SAA, which, according to financial statements for 2018 and 2019, recorded R16 billion in losses over the last three years, was a text book case of how to waste public money and run a strong entity to the ground.“It is the beginning of things to come, the fruition of a programme to collapse state entities for them to be bought off by the influential, powerful black economic empowerment [BEE] moguls,” Ndou said.
He said taxpayers were also increasingly annoyed by government’s continued bailing out of state entities, while failing to capacitate them to stay afloat. The deal has not gone down well with the National Union of Metalworkers of South Africa , charging that the same Department of Public Enterprise that refused to act to stop the looting of SAA through the bloated, corrupt procurement spend, has now privatised it.
“But we are not surprised, because the past decade has shown us how the state has lost its ability to stay out of interfering with its business entities and has no idea how to run such complex business systems… In fact, I don’t think they’ll get much for Denel, which should probably just be liquidated.,” Duvenage said.
He added that the other side of that coin, was to keep all the jobs and let government become an employment agency, and against that backdrop, we must simply accept the continuous bailouts of failed SOEs until we become a failed state.
None should be sold but with good proper ethical leadership they can saved and rid the entities of cadre deployment.
I thought selling eskom would be a good idea but changed my mind after learning about the disadvantages of having private companies for electricity supply 🙆🏾♂️
We repeat, Tito Mboweni is a dangerous crisis. He is going to privatize everything, including the Union Buildings.
SAA was rekt by deployment of Cadre$ and corruption under the pretext of BEE
Everything even us,the citizens.
All of them. They cannot manage them mos...
The ANC!
CyrilRamaphosa is working hard to make sure all SOEs are privatised to appeas his handlers.
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