National Treasury briefed the Standing Committee on Public Accounts (SCOPA) on 14 March 2023, on all the State Owned Entities (SOEs) that have received bailouts and government-backed guarantees. Treasury reported that over the last decade, there had been a significant decline in the performance of many SOEs, while operational costs have increased, net profits have fallen and debt levels have become increasingly unsustainable. Treasury went as far to say that SOEs “…have been facing inadequate financial policies and a lack of adequate oversight and accountability since 2012”.
