Now consider the current state of affairs in the South African state owned enterprises.
“The ANC & Business Face-off – Whose Plan Could Resuscitate the Nation? | Carte Blanche | M-Net” - https://youtu.be/QEPypc_cl-w
“Eskom, SAA, SAPO and all the other state companies the South African government has run into the ground” at https://businesstech.co.za/news/government/361454/eskom-saa-sapo-and-all-the-other-state-companies-the-south-african-government-has-run-into-the-ground/ states;
“Government’s track record with state-owned companies is nothing short of abysmal, with reports that nuclear energy regulator Necsa is the latest in a long line to fall prey to maladministration and financial collapse.
The massive problems at South Africa’s state-owned companies was highlighted by Auditor General, Kimi Makwetu, in November, where he noted that not a single audited SOE obtained a clean audit opinion in the last financial year.”
“With around 700 state-owned entities in South Africa, it is almost impossible tracking the failures and losses (or successes) at all of them but there have been a number of high-profile crashes – many of which South Africans are very familiar with.
Whether its government bailouts, continued losses, corruption or financial collapse, these are some of the biggest state companies that have been run into the ground.”
It further discusses Eskom, SAA, Denel, Prasa, Sanral, SABC, Necsa, SAPO, CEF and Petro SA, and RAF.