JOHANNESBURG - South Africa does not have the money to plough into ailing SOEs, according to Business Unity South Africa.
The organisations CEO, Cas Coovadia, commented ahead of Finance Minister Tito Mboweni’s Medium-Term Budget Policy Statement.
"We have to ensure that government expenditure is targetted and prioritised. We don't have the money to put into vanity projects. We don't have the money to throw into SOEs that have no potential for neither an economic or social return," he said.
Mboweni will deliver his budget on Wednesday, against a difficult economic backdrop, worsened by the COVID-19 pandemic.
Watch the full interview with Cas Coovadia in the video above.