Tag: State Owned Enterprise (SOE)

After years of sustained pressure especially from organisations like Sakeliga, the government relented in November last year and promulgated regulations stating that state-owned enterprises (SOEs) no longer have to comply with Broad-Based Black Economic Empowerment (B-BBEE), requirements when awarding government contracts.

If South Africa was a horse, we would probably shoot it. But it is instead a one-horse country, and we have to find a way to save it. Imminent national collapse looms. We know we cannot continue with the African National Congress (ANC). They actually deserve to be shot.

The 2022 Medium Term Budget Policy Statement (MTBPS) was tabled to Parliament on 26 October 2022 by South African Finance Minister Enoch Godongwana.

In March this year, in a much-publicised interview (Neal Froneman gets frank about the lows, and highs, of doing business in South Africa), Sibanye-Stillwater CEO Neal Froneman heavily criticised the state of South Africa’s economy and government, citing a lack of leadership.

After three years of public hearings and with a price tag of over a billion Rand, Justice R.M.M. Zondo, the Acting Chief Justice of the Republic of South Africa, handed the fourth part of the report on state capture and corruption during the presidency of Jacob Zuma, to President Cyril Ramaphosa.

After three years of public hearings and with a price tag of over a billion Rand, Justice R.M.M. Zondo, the Acting Chief Justice of the Republic of South Africa, handed the third part of a three-part report on state capture and corruption during the presidency of Jacob Zuma, to President Cyril Ramaphosa.

The National Budget was characterised by the balance between social welfare expenditure and fiscal sustainability amid a disappointing outlook for GDP growth in South Africa. The estimate for GDP growth for 2021 was reduced from 5.1% to 4.8% and forecasted to grow at 1.8% p.a. over the next three years.

President Ramaphosa delivered the Nation Address on Thursday evening from the Cape Town City Hall, as the country struggles with an ailing economy, civil unrest, corona virus, state capture and a promise-weary public.

For millennia the dominant thinking throughout human society was, ‘force over voluntary interactions.’ Regardless of the country, the adage of ‘might makes right’ was the guiding rule upon which people interacted with each other.

Volume 1 of the second Zondo Report (Zondo 2), which deals with Transnet, graphically shows how important it is for a CEO to appointed who has the right qualities - and, consequently, the board’s respect. CEO appointments should be the prerogative of the board in terms of governance best practice.