SA’s troubled parastatals to be placed under curatorship as it receives billions in State funding

Finance Minister Tito Mboweni is making good on his promise that cash-strapped State-owned companies receiving bailouts from government would be placed under curatorship, announcing on Tuesday that chief restructuring officers would be appointed within 48 hours for Eskom, Denel, the South African Broadcasting Corporation (SABC) and South African Airways (SAA). Mboweni tabled a special appropriation bill in the National Assembly, making available R59-billion to Eskom over the next two years, but said that this would go hand in hand with a chief restructuring officer being appointed later in the day.