There is little doubt that state-owned enterprises can be successful. Theoretically they can provide services at a reasonable price and spread those services. If Parliament – as defender of the interests of the shareholder, the state – is of sufficient standard as an oversight mechanism, the interests of the voter and taxpayer can also be part of the mix. Eskom, interrogated by the trade and industry committee this week after releasing its interim results, is reasonably sound on paper. It turned a hefty profit of R12.6 billion in the six months to September. Yet there are many clues that...
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