‘Put part of SAA, Eskom in private hands’

2016-08-24 06:00

ESKOM and the South African Airways (SAA) would be better run if partially sold to private investors, helping solve economic challenges, said billionaire Christo Wiese.

Selling part of Eskom will increase “capacity, it would hopefully strengthen corporate governance,” Wiese, chairperson of Steinhoff, said in an interview at his Cape Town office on Wednesday (17/08).

“Another enormous albatross around our neck is SAA. The solution is fairly simple,” Wiese said.

While Eskom has stabilised its plants’ performance and managed to halt regular power cuts that stifled economic growth in 2014 and last year, tariffs have more than quadrupled since 2007. SAA is dependent on government-guaranteed loans and is awaiting a decision by the Treasury on if it will get more state support.

“We’ve got a lot of extremely low-hanging fruit, if we can just get the political will established. The corporate governance in a lot of the state-owned enterprises, the so-called SOEs, leaves, to put it mildly, a lot to be desired.” – News24

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Competition regulation for a growing and inclusive economy

ADVERTORIAL: The Competition Commission of South Africa is conducting advocacy work in the South African automotive aftermarket industry and has gazetted a Draft Code of Conduct for public comment.


Man scores date with tennis superstar after Twitter bet

It’s a modern day Cinderella story, but one American man took ‘shoot your shot’ seriously in 2017.


You won't want to miss...

Who are the highest paid models of 2017?
10 gorgeous plus-sized models who aren't Ashley Graham
5 top leg exercises for men
10 best dressed men of 2017
Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.