State-Owned Companies - The African Mirror

Apr

14

2023

South Africa targets $111 billion investment goal in tough investor climate

NEWS

SOUTH Africa needs to urgently fix energy, transport and security challenges if it is to reverse souring investor sentiment, executives said as President Cyril Ramaphosa targets 2 trillion rands ($111 billion) in new investments over the next five years. Executives were speaking at the South African Investment Conference in Johannesburg, launched by Ramaphosa in 2018 as a way to boost economic activity that had been in decline for over a decade in Africa's most advanced but struggling economy. Mismanagement and corruption at state-owned companies, including power utility Eskom and freight logistics group Transnet, have had a knock-on effect on ports…

Successfully Implementing Turnaround Strategies in State-Owned Companies

THOUGHT LEADERSHIP

EXCERPT from the book, Successfully Implementing Turnaround Strategies in State-Owned Companies: SAA, Kenya Airways and Ethiopian Airlines as Case Studies KAIZER M. NYATSUMBA There were far more factors which impacted negatively on SAA’s implementation of its Long-Term Turnaround Strategy (LTTS) than there were factors which had the same impact on Kenya Airways’s (KQ’s) implementation of its turnaround strategy, called Operation Pride. While by far the majority of these factors are attributable to the Shareholder and the Board of Directors (BoD) in SAA’s case, in KQ’s case they are largely attributable to the Top Management (TMT) and the BoD. The Shareholder is a big…

How Guptas got billions in income and kickbacks

NEWS

AFRICAN MIRROR REPORTER WHILE companies linked to them earned more than R49-billion, the Gupta family received a further R15.9-billion in kickbacks from third parties who got contracts from the South African government and state-owned companies as a result of the family’s political influence. These revelations were made at the judicial commission into state capture, corruption and theft by Paul Holden, a director at Shadow World Investigations. Holden outlined to the commission, chaired by Deputy Chief Justice Raymond Zondo, the flow of money from government department, state-owned enterprises to over 200 companies. He has analysed thousands of banking transactions, accounts that…