‘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

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