Regardless of whether one agrees with the dubious concept of a developmental state, SOEs would be key to any developmental agenda, and SA's have failed
Regardless of whether one agrees with the concept of a developmental state, SOEs would be key to any developmental agenda, and SA’s have failedIn a recent interview, public enterprises minister Pravin Gordhan said all state-owned entities must be self-sustaining, “save to the extent that a specific developmental mandate may be given to an SOE, which could be reimbursed either through cross-subsidisation or on the understanding that no dividends are payable to the state but are instead used for...
Transnet's more realistic scenario, in the case of an extended soft lockdown, would see revenue reduced by R12.25bn. No mention was made of Transnet seeking private-sector investment, as is believed to be the case, nor whether Transnet should continue to operate as it does, preventing competition that could lower the cost of logistics and transport in SA.
Even the injection of R576m promised in the 2020 budget will not alleviate Denel’s parlous position. Since its establishment in 1992 Denel has argued it is a “strategic national asset that adds great value to defence and security sectors as well as technological development”.
While boards have been appointed for Eskom’s transmission and generation divisions, it is still working on the allocation of its R450bn debt to each of these divisions. Debt will be apportioned, but the reality is that the overwhelming bulk of Eskom’s business is electricity generation, and that’s where the problems remain — debt, plant, load-shedding and more. Lucrative rent-seeking contracts are still in place and remain shrouded in secrecy.
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