State-owned entities are currently under considerable pressure and there is doubt as to how many of them have the ability to continue without the necessary financial assistance. This is the opinion of Auditor-General Kimi Makwetu, who last week released a national and provincial auditor’s report for the period 2028-2019 in Cape Town. He says there..
Continue reading…
Transnet wasted almost R50 billion, most of which is used to buy trains that cannot be used in SA
14 SOEs rack up more than R1.4 billion in irregular expenditure
Posted on Leave a comment
Auditor General (AG) Kimi Makwetu said not one of the 14 big state-owned entities (SOEs) audited by his office received a clean audit, a poorer outcome than last year. Makwetu was revealing the results of the national and provincial audits for the past financial year at Parliament on Wednesday. He said the financial health of..
Continue reading…
How do you explain it? Only 18 of the 257 municipalities in South Africa are functionally correct
Posted on Leave a comment
The Auditor-General, Kimi Makwetu, pointed out the big sore in the economy of the country. In his latest report, he shows that politicians and officials simply ignore his office’s recommendations. The other truth that emerges is that municipal councils do not have the necessary skills to handle finance. Only 18 of the 257 municipalities in..
Continue reading…