'If you look at SOEs we surveyed, SAA is the worst performer of them all'

According to a report by Moneyweb, nine of South Africa's state-owned enterprises (SOEs) have performed so dismally in 2018 that their losses affected financial gains of 21 others.

Read: 'SAA is not "unbundling" but simply changing its business model'

To unpack this report, Clement Manyathela on the Xolani Gwala Show speaks to Moneyweb contributor Adriaan Kruger.

If you look at the SOEs we surveyed, SAA is the worst performer of them all, and SA Express also performed poorly. Our report shows that the SABC lost around R600m in the last year.

Adriaan Kruger, Contributor - Moneyweb

He says the research shows that it is taxpayers that are paying for the losses.

Listen below to the full interview:


Recommended

by NEWSROOM AI
Read More
Transnet staffers involved in alleged corruption worth billions

Transnet staffers involved in alleged corruption worth billions

AmaBhungane senior investigative journalist Susan Comrie provides insights into a City Press exposé over the weekend.

How big are Eskom’s needs? Almost certainly larger than taxpayers understand

How big are Eskom’s needs? Almost certainly larger than taxpayers understand

Lossmaking Eskom is drowning in debt and can’t service its interest. George Glynos on how big its needs are.

Meet Wrenelle Stander of Comair, a company profitable for 72 years in a row

Meet Wrenelle Stander of Comair, a company profitable for 72 years in a row

Comair owns Kulula.com and British Airways. Bruce Whitfield interviews Wrenelle Stander for his weekly “ShapeShifter” feature.

[VIDEO] President Cyril Ramaphosa addresses 2019 Young President Organisation

[VIDEO] President Cyril Ramaphosa addresses 2019 Young President Organisation

Presidency's Khusela Diko on what President Rampahosa said to Young Presidents Organisation gathering at the CTICC.

SAA pilot exposed for flying long-haul flights without proper certification

SAA pilot exposed for flying long-haul flights without proper certification

According to investigative journalist Sabelo Skiti, SAA pilot William Chandler has been flying aircrafts for more than 20 years.

I was never Zuma's advisor and have no dealings with Duduzane  - Sandile Zungu

I was never Zuma's advisor and have no dealings with Duduzane - Sandile Zungu

Business Unity SA's Sipho Pityana has accused the Black Business Council 's Sandile Zungu of being complicit in state capture.

Eskom's R69 billion lifeline may help keep tariffs down, says energy analyst

Eskom's R69 billion lifeline may help keep tariffs down, says energy analyst

The cash-strapped power utility will get R69 billion over the next three years, Finance Minister Tito Mboweni announced.

#Budget2019 "Do we really need SOEs?"

#Budget2019 "Do we really need SOEs?"

In his first budget speech, Tito Mboweni pledged a conditional R23bn a year for Eskom and a pay freeze for MPs and MPLs.

We are far from being alright - economist

We are far from being alright - economist

South Africans get ready for the Budget speech, economist Mike Schussler paraphrases Malusi Gigaba 'we're definitely not alright'.

'SAA is not "unbundling" but simply changing its business model'

'SAA is not "unbundling" but simply changing its business model'

SAA spokesperson Tlali Tlali denies reports the company will be going through the same route as Eskom to break into 3 entities.

"Chair I am confused" Vytjie Mentor tells state capture commission

"Chair I am confused" Vytjie Mentor tells state capture commission

The commission revealed on Monday that its own investigation contradicts almost every testimony that Mentor brought before it.

Vytjie Mentor pressed on discrepancies in her testimony

Vytjie Mentor pressed on discrepancies in her testimony

State capture inquiry says it hasn't found any evidence of the SAA flight where she apparently met the Guptas for a Cabinet job.

Sanef welcomes investigation of journalists on Bosasa's payroll

Sanef welcomes investigation of journalists on Bosasa's payroll

Former Bosasa COO Angelo Agrizzi on Monday dropped names of three journalists that he claims were on Bosasa's payroll for bribes.

Bosasa's Angelo Agrizzi's shocking evidence at state capture commission

Bosasa's Angelo Agrizzi's shocking evidence at state capture commission

Agrizzi has revealed evidence which implicates former SAA chairperson Dudu Myeni in state capture.

Denel board chair defends hiring of Daniel du Toit as CEO

Denel board chair defends hiring of Daniel du Toit as CEO

Denel's board chairperson says the decision to hire Daniel du Toit as the group chief executive was made with its eyes open.

Trade union unhappy with Denel's new white CEO hire

Trade union unhappy with Denel's new white CEO hire

Limusa's Siboniso Mdletshe says an investigation recommended that Denel stop appointing whites and Indians in strategic positions.

Daniel Du Toit appointed as new Group Chief Executive Officer for Denel

Daniel Du Toit appointed as new Group Chief Executive Officer for Denel

The ministry of public enterprises and the Denel board made the announcement on Thursday.

Investigation into fraudulent bursary for Supra's son - Denel

Investigation into fraudulent bursary for Supra's son - Denel

Chairperson of Denel's Audit Committee Talib Sadik says Supra Mahumapelo's son's bursary was fraudulent.

Why Ethiopian Airlines (not SAA) is Africa's biggest and best airline

Why Ethiopian Airlines (not SAA) is Africa's biggest and best airline

State-owned (but not managed) Ethiopian Airlines is profitable. Bruce Whitfield interviews Africa correspondent Lee Kasumba.

Top three fake facts for October

Top three fake facts for October

Africa Check's senior researcher, Kate Wilkinson returns to the Azania Mosaka Show fact check some popular statements and stats.

3 Business Unusual predictions for 2017

3 Business Unusual predictions for 2017

How speech, hacking and blockchain will generate lots of news this year.

Popular articles
How South Africa is viewed across African continent is crucial - Zeinab Badawi

How South Africa is viewed across African continent is crucial - Zeinab Badawi

BBC presenter discusses the broadcaster's interactive Global Questions series.

[WATCH] Mom revealing that she forgot her children during school run goes viral

[WATCH] Mom revealing that she forgot her children during school run goes viral

Khabazela shares some of the videos that went viral on Twitter and Facebook.

[WATCH] Michael Jackson lookalike wrestling has social media in stitches

[WATCH] Michael Jackson lookalike wrestling has social media in stitches

Khabazela shares some of the videos that went viral on Twitter and Facebook.

EFF march against load shedding to Eskom head office

EFF march against load shedding to Eskom head office

Secretary-general Marshall Dlamini says the aim of the protest is to bring awareness of the incompetence of that in charge.

Budget 2020 made simple: how does it impact my personal finances?

Budget 2020 made simple: how does it impact my personal finances?

Wealth builder Warren Ingram on how the new budget affects you.

Spur to open 11 more outlets in South Africa

Spur to open 11 more outlets in South Africa

Spur releases results saying it plans to open 11 outlets in SA and 17 internationally in the second half of the year.

Massmart explains store closures and retrenchments in the face of a R1.3bn loss

Massmart explains store closures and retrenchments in the face of a R1.3bn loss

Massmart has withheld their dividend as it swings to a R1.3bn loss

'Blame Madiba  and Mbeki for Eskom' - unions vow to fight Budget 2020 wage cuts

'Blame Madiba and Mbeki for Eskom' - unions vow to fight Budget 2020 wage cuts

''Government is speaking with forked tongue and Budget 2020 came as a shock''. Unions want to fight planned wage cuts.

 #Budget2020: There is a huge sense of relief among retailers - Edcon

#Budget2020: There is a huge sense of relief among retailers - Edcon

On Wednesday Finance Minister Tito Mboweni said there would be no new income tax hikes this year.

Cape Winelands farm workers protest following eviction of six family members

Cape Winelands farm workers protest following eviction of six family members

Women on Farms co-director Carmen Louw says they hope the Extension of Security of Tenure Act will be amended.