Collapse of govt accountability creating crisis at SOEs, says economist

Economist Lumkile Mondi says the collapse of government accountability has negatively affected state-owned enterprises (SOEs).

This comes amid renewed calls by the ANC to develop protocols which will help intervene at SOEs.

The problem is that the State itself has been repurposed, if you look at the President, the Constitution and the accountability structures; they have all collapsed.

Lumkile Mondi, Senior Lecturer at the Wits University School of Economics and Business Science

This break down is very very good for those out to loot our public resources.

Lumkile Mondi, Senior Lecturer at the Wits University School of Economics and Business Science

Mondi argues that the reappointment of Eskom CEO Brian Molefe is proof that there is a "shadow state" at work.

The ruling party has proposed that there be protocols for intervention, which would allow for more oversight by Parliament and government departments.

Mondi explains that the party is trying to revive the recommendations made in the report of the Presidential Review Committee (PRC) of state-owned entities (SOEs) in 2011.

The remarks by ANC sub-committee member Thabo Mokoena on the weekend was trying to bring back some of those discussions.

Lumkile Mondi, Senior Lecturer at the Wits University School of Economics and Business Science

Take a listen to Mondi explain the issues facing SOEs and what oversight is needed:


This article first appeared on CapeTalk : Collapse of govt accountability creating crisis at SOEs, says economist


Recommended

by NEWSROOM AI
Read More
10 business tips to boost you through a tough economy

10 business tips to boost you through a tough economy

Business growth specialist, Pavlo Phitidi tracks down previously profiled businesses and advises them on their next level growth.

Zuma lashes out at 101 ANC stalwarts in policy conference opening salvo

Zuma lashes out at 101 ANC stalwarts in policy conference opening salvo

President Zuma went 'off script' on Friday when he castigated his detractors saying many denied being on the 101 stalwarts list.

Nzimande: ANC will pay the price for allowing Molefe's return to Eskom

Nzimande: ANC will pay the price for allowing Molefe's return to Eskom

The SACP secretary general, Blade Nzimande, is speaking at the national imbizo on challenges facing the tripartite alliance and SA.

Eskom apparently gave Gupta-linked Trillian a R419m leg up, to buy Optimum mine

Eskom apparently gave Gupta-linked Trillian a R419m leg up, to buy Optimum mine

AmaBhungane explains how it uncovered how Eskom allegedly gave a helping hand to companies linked with the Gupta family.

New smart electricity meter means everyone pays upfront

New smart electricity meter means everyone pays upfront

Siemens AMI smart meters will convert post-paid meters to pre-paid and plans to bring down municipalities Eskom debt.

[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

[LISTEN] Van Breda's call to emergency services: 'My family and I were attacked'

The chilling call Henri van Breda made to emergency services on the night his mother, father and big brother were hacked to death.

Popular articles
SundayTimes and former ANN7 journalist set the record straight on fake statement

SundayTimes and former ANN7 journalist set the record straight on fake statement

A message alleged to be from formerANN7 journalist Farida Joyce has been circulated on WhatsApp and social media.

JSE shares to buy - and sell - right now (by Aluwani Capital Partners)

JSE shares to buy - and sell - right now (by Aluwani Capital Partners)

Hot tip! Patrick Mathidi (Head of Equities at Aluwani Capital Partners) shares what he’s buying and selling this week.

Does your work suck? A book for people with jobs that drive them to drink…

Does your work suck? A book for people with jobs that drive them to drink…

Andy Golding (Employee Experience Specialist at Still Human) discusses his book “We Are Still Human - And Work Shouldn't Suck”.

We should call it treason! They betrayed the country! - Corruption Watch

We should call it treason! They betrayed the country! - Corruption Watch

David Lewis, Executive Director at Corruption Watch, discusses the effects and severity of corruption.

New laws to compel Home Affairs employees to work shifts

New laws to compel Home Affairs employees to work shifts

Acting Home Affairs DG Thulani Mavuso says these new laws will ensure that the department does its job efficiently.

Eusebius: Agrizzi is no hero for blowing the whistle

Eusebius: Agrizzi is no hero for blowing the whistle

Eusebius McKaiser says Angelo Agrizzi should not be seen as a hero for his testimony at the Zondo Commission of Inquiry.

[LISTEN] Caller Poppy confirms Endumisweni Faith Mission Church abuse

[LISTEN] Caller Poppy confirms Endumisweni Faith Mission Church abuse

A caller weighs in on viral videos doing the rounds of bizarre things happening at Endumisweni Faith Mission Church in Mdantsane.

[WATCH] Mosimane's reaction to Moroccan team leaves social media in stitches

[WATCH] Mosimane's reaction to Moroccan team leaves social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.