The ANC-led government continues to behave like lemurs that eat its own poop, just a day after SABC retrench 600 employees the Auditor general revealed that the government entities have wasted more than R68 billion in 2020 alone. The money is enough to revive companies like SABC and SAA for the next 10 years. Various State-Owned Entities wasted millions through wrongly procured products, reckless use, and abuse of resources, here are the major culprits:
Airports Company South Africa (R0.6bn)
South African Broadcasting Corporation (R0.03bn)
A total of 55 SOEs had a deficit on their books and 5% of them are not sure if they will be able to operate in the near future unless we the people give them bailouts with our hard-earned taxes. The other challenge facing these SOEs is the defaulting customer base, SABC customers are no longer paying for TV and radio licenses. Eskom has had a challenge of illegal power connections, especially in informal settlements. The Auditor general urged the government to come up with ways of improving the revenue collection in these entities as well as increase the protection of strategic infrastructure which is vandalized from time to time.
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