Tag: State Owned Companies (SOC)

As most South Africans eagerly awaited some reprieve from a year of constant and negative bombardment, be this over matters such as a massively contracted economy, rising unemployment, state capture, rising corruption and the threat of expropriation of property without compensation, many had hoped to return from their annual vacation rested, and hopeful to hear some positive news. This did not happen.

The duty of directors to act in the best interest of the company has traditionally been to maximise profits for the company's shareholders. Over time, however, public opinion has dictated that a variety of other stakeholders' interests should also be recognised. So, can the directors of these companies be held personally liable by the South African public as ultimate stakeholders? And, what exactly are the duties of directors of State Owned Companies (SOC)?