‘SA could have bought Emirates for the money spent on SAA’
Business Leadership SA leader Bonang Mohale says SA will soon reach a fiscal cliff if it doesn’t stop bailing out state-owned enterprises
SA could have achieved a lot were it not for its continual bail-outs of state entities and state capture‚ Business Leadership SA CEO Bonang Mohale says. "We have spent R50bn on SAA since 1999. If we had not done that‚ we would have bought Emirates Airlines. We could have in 23 years had four CEOs who are being headhunted for being effective and efficient knowing how to run an award-winning airline‚" said Mohale. He was speaking at a panel discussion on Tuesday titled "SA — Hero to Zero"‚ about the role of business in the country’s current political climate. Mohale said South Africans had a lot to think about ahead of the ANC’s elective conference. "Post December 20‚ I think we will be confronted with two challenges. The first will be a fiscal cliff where this government will run out of money at the rate that we are bailing out state-owned enterprises. "Secondly‚ I think that most of us are beginning to think about an emergency economy recovery plan‚" he said. "There is [agreement] a...
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