Tag: State Owned Enterprise (SOE)

South African businesses in the metals and engineering (M&E) sector have faced enormous challenges over the past few years, with the  pandemic compounding an already difficult situation. A shrinking domestic market, declining production, weak production sales, a smaller contribution to the economy, increasing joblessness, cheap imports and low investment levels are just some of the issues they face.

Read our exclusive cover story titled THE RULE OF LAW & THE WISDOM OF THE AGES by Chris Hattingh, Deputy Head of Campaigns, South African Institute of Race Relations, as well a host of other topical management articles written by professionals, consultants and academics in the February/March 2022 edition of BusinessBrief.

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 second part of a three-part report on state capture and corruption during the presidency of Jacob Zuma, to President Cyril Ramaphosa.

The first part of the State Capture Commission’s report, released earlier this month, documents an account of events where many sectors and individuals colluded to create an environment in which billions could be pilfered. This was achieved by deliberately sidestepping constitutional and regulatory checks and balances.

The State Capture Report released by Chief Justice Raymond Zondo is a scathing account of collusion between the State and politically connected cronies. The Inquiry took almost four years and cost nearly R1 billion to complete; uncovering the reasons why State-owned entities are performing abysmally with corruption playing a central role in the decay.

Conclusions and recommendations made in part one of the state capture inquiry report align closely to a letter sent by the Institute of Directors South Africa (IoDSA) to the Zondo Commission in September 2021. The letter included recommendations on director competencies as well as the nomination and selection of directors.

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 first part of a three-part report on state capture and corruption during the presidency of Jacob Zuma, to President Cyril Ramaphosa.

The Medium Term Budget Policy Statement (MTBPS) 2020 was tabled to Parliament on 11 November 2021 by South African Finance Minister Enoch Godongwana.

The Washington Post recently ran an opinion piece by Colbert I. King about immigrants to America and the remittances they send back to family and friends in their home countries. Mr. King was speaking of immigrants to the United States but this holds some important lessons for South Africa as well.

As long as government’s cadre deployment policy is defended, governance of South Africa’s state-owned entities (SOEs) will remain vulnerable and at risk. This is a reaction to the testimony of President Cyril Ramaphosa before the Zondo Commission of Inquiry into State Capture, who acknowledged that 'massive system failures' with board appointments paved the way for SOE failures. At the same time, the President defended cadre deployment.