COVID-19 has weakened SOEs: Masualle

The public enterprises department has told Parliament that the Covid-19 pandemic will make it more difficult to turnaround ailing state-owned companies. Eskom, Denel, Transnet, SAA and SA Express have all been struggling under the lockdown. The department was presenting its strategic recovery plan to MPs. Lindsay Dentlinger is following that story for us from Cape Town. Courtesy #DStv403

JOHANNESBURG - State-owned companies have been struggling under the lockdown, and turning them around will be even more difficult than before, that's according to Public Enterprises Deputy Minister, Phumulo Masualle.

Eskom, Denel, Transnet, SAA and SA Express, have all been struggling under the lockdown.

READ: SAA lost more R10.5bn in the past two years: report

Masualle and his department presented a strategic recovery plan to a joint meeting of Parliament’s Public Enterprises committees.

"The closing down of economic activity meant that the new challenge for Eskom would be an inability to raise revenue," Masualle said.

Source
eNCA