South Africa's State-Owned entities in extreme distress

Government is working at positioning Postbank to function as a full-services bank. Public hearings were held last week as part of the process to amend the South African Postbank Limited Act, to insert the necessary changes to allow the bank to transition. Presenting the South African Postbank Amendment Bill before the Communications Portfolio Committee yesterday, Communications minister Khumbudzo Ntshavheni said the Post Office is not financially viable, and therefore cannot hold a bank license despite being the shareholder and the owner of the Postbank. SAPO, is not different from other SOEs, and senior partner and governance specialist at SIRDAR, Roger Hitchcock, joins us virtually to discuss the state of SOEs in South Africa.

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