South Africa: SOEs' Missed Performance Targets, Losses of Billions of Rands and More Laid Bare

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South Africa: SOEs' Missed Performance Targets, Losses of Billions of Rands and More Laid Bare
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Analysis - As the IFP called for an urgent parliamentary debate on the state-owned enterprises crisis, a swathe of departmental annual and Auditor-General reports detailing losses, failed targets and governance lapses came up for scrutiny at Parliament on Wednesday.

As the IFP called for an urgent parliamentary debate on the state-owned enterprises crisis, a swathe of departmental annual and Auditor-General reports detailing losses, failed targets and governance lapses came up for scrutiny at Parliament on Wednesday.

"Overall, the entity has not achieved the planned service delivery objectives and this had a direct impact on the entity's mandate of lowering the cost of doing business in South Africa through providing cost-effective and efficient logistical solutions," the AG's presentation for the 2022/23 financial year said.

In the freight rail sector, a similar picture emerged: of the planned 240 available locomotives, only 91 were available, and while more money was spent to increase the security of infrastructure, not all breaches were recorded, as required.

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