In a recent presentation to parliament, public enterprises minister Pravin Gordhan said the government had spent R234bn on “bailouts” to state-owned enterprises and received dividends of only R1m over the past five years.
Eskom accounted for 78% of the bailouts. SAA accounted for another 16%. Since the gap between the airline’s revenues and costs was about R2bn a year from 2010 to 2017, it would probably have cost less to keep it operating. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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