Tuesday 21 January 2020
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wn.com - 1 month ago

S. African president vows to reduce dependence of SOEs on gov t bailouts

CAPE TOWN, Dec. 9 (Xinhua) -- President Cyril Ramaphosa on Monday vowed to reduce the dependence of state-owned enterprises (SOEs) on bailouts and guarantees from the government. For too long, the South African taxpayer has been funding inefficiency and mismanagement in SOEs, said Ramaphosa in his weekly address from the Desk of the President, adding that this is coming to an end. Although many of these SOEs are deeply in debt, they remain valuable state assets with immense...


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