They are failing because the board of directors are not competent to run multibillion rand organisations.
— Shaun Liebenberg
On Wednesday ratings agency Moody’s placed Eskom, Sanral, the Industrial Development Corporation (IDC), the Development Bank of Southern Africa (DBSA) and the Land Bank on immediate review for a downgrade.
Moody’s is concerned about their access to the debt market and their ability to absorb higher funding costs.
The Money Show’s Bruce Whitfield interviewed Shaun Liebenberg, a former CEO at Denel.
Scroll down for more quotes from the audio below.
I ran Denel up until 2008.
— Shaun Liebenberg
Every SOE’s board of directors is appointed by Cabinet. They are responsible.
— Shaun Liebenberg
What is the mandate of an SOE? At Denel it was to create a globally competitive organisation.
— Shaun Liebenberg
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