South Africa’s State-owned companies are in a parlous state and if the boards and management of these organisations do not do what government expects of them, it won’t hesitate to intervene to ensure proper governance and financial management, says Public Enterprises Minister Pravin Gordhan. He painted a grim picture of the country’s biggest state-owned entities – Eskom, SAA, Transnet and Denel – when he delivered his response to President Cyril Ramaphosa’s State of the Nation Address on Tuesday. Gordhan told MPs that state capture is the major reason why most remain a blight on the country’s balance sheet.
