Reforming South Africa’s state owned enterprises should start with greater accountability and financial responsibility.
The scandals surrounding South Africa's power utility, Eskom, was caused by the neglect of corporate governance rules by the board, the executive authority and the public enterprises minister.
What has been lost in stating the case for South Africa's credit rating is a tangible plan for strengthening governance and regulation of its state owned enterprises.
South Africa's parastatals are in a dire state. Instead of being the mandated sites of development and profitability, they are costing the public purse billions and have been abused.
The costs to South Africa of maintaining the ownership of a national airline are proving to be unbearably expensive. It's time to let the struggling carrier go.