'SOEs are failing because the board of directors are not competent'

They are failing because the board of directors are not competent to run multibillion rand organisations.

Shaun Liebenberg

On Wednesday ratings agency Moody’s placed Eskom, Sanral, the Industrial Development Corporation (IDC), the Development Bank of Southern Africa (DBSA) and the Land Bank on immediate review for a downgrade.

Moody’s is concerned about their access to the debt market and their ability to absorb higher funding costs.

The Money Show’s Bruce Whitfield interviewed Shaun Liebenberg, a former CEO at Denel.

Scroll down for more quotes from the audio below.

I ran Denel up until 2008.

Shaun Liebenberg

Every SOE’s board of directors is appointed by Cabinet. They are responsible.

Shaun Liebenberg

What is the mandate of an SOE? At Denel it was to create a globally competitive organisation.

Shaun Liebenberg

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : 'SOEs are failing because the board of directors are not competent'


Recommended

by NEWSROOM AI
Read More
How to make best use of your year-end bonus

How to make best use of your year-end bonus

The Money Show’s Bruce Whitfield interviews Warren Ingram, Personal Financial Advisor and Executive Director at Galileo Capital.

UK politics descends into chaos as Tories trigger no confidence vote against May

UK politics descends into chaos as Tories trigger no confidence vote against May

The Money Show’s Bruce Whitfield interviews Prof Raymond Parsons (Economist at NWU Business School) and EWN's Alex Eliseev.

The best things to listen to this holiday

The best things to listen to this holiday

What music can do for the soul, podcasts can do for the mind.

How RMB went from 'too poor to buy a photocopier' to the largest bank in SA

How RMB went from 'too poor to buy a photocopier' to the largest bank in SA

Bruce Whitfield sat down with GT Ferreira, Laurie Dippenaar and Paul Harris, the inspirational founders of Rand Merchant Bank.

10 most-read articles of 2018 from Bruce Whitfield's The Money Show

10 most-read articles of 2018 from Bruce Whitfield's The Money Show

It's interesting to see which The Money Show articles were most widely read in 2018; a very tough year for the economy.

Research proves networking doesn’t work (if you try it with strangers)

Research proves networking doesn’t work (if you try it with strangers)

Review of “Friend of a Friend: Understanding the Hidden Networks That Can Transform Your Life and Your Career” by David Burkus.

Popular articles
'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

'Love your vulva the way it is' - Designer vaginas are dangerous, warns Dr Eve

So-called 'designer vaginas' are created through various surgical or non-surgical procedures, explains clinical sexologist Dr Eve.

'Cyril is the most popular president since Nelson Mandela'

'Cyril is the most popular president since Nelson Mandela'

Author Max de Preez weighs in on where SA would be if Jacob Zuma was still president and the impact of Ramaphosa now.

Kirstenbosch curator's widow thanks hospital's 'unsung heroes'

Kirstenbosch curator's widow thanks hospital's 'unsung heroes'

Kirstenbosch National Botanical Gardens curator Phillip Le Roux died on Wednesday after a horrific cycling accident.

Here is what to do if you're affected by driving licence backlog

Here is what to do if you're affected by driving licence backlog

The WC Traffic Department has made provisions to cater for motorists affected by the backlog with the issuing of driving licences.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

[LISTEN] Meet your 2018 Idols SA winner... Yanga Sobetwa!

[LISTEN] Meet your 2018 Idols SA winner... Yanga Sobetwa!

17-year-old Yanga Sobetwa was recently crowned the winner of the 14th season of the reality singing competition.

[WATCH] Ellen Pakkies shares her own story as local film adaptation hits screens

[WATCH] Ellen Pakkies shares her own story as local film adaptation hits screens

Eleven years after murdering her drug addict son, the film about Ellen Pakkies' story is being shown at cinemas across SA.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.