South African taxpayers lost R521 billion bailing out corrupt and mismanaged state-owned enterprises

BusinessTech

South African taxpayers have spent R521 billion in 15 years on State-Owned Enterprises (SOEs) with no returns. Bailouts continue due to mismanagement and corruption, potentially exceeding Treasury estimates. Finance Minister Godongwana revealed the drain on the fiscus during a speech in February, highlighting the impact on other areas like health and pensions.
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