South Africa’s President Hold Talks with Executives of Key State Companies

President Cyril Ramaphosa met with former CEO’s from power utility Eskom and South African Airways (SAA), to discuss challenges they face. The meeting follows resignations of Eskom and SAA chief executives, moves that investors said could slow the pace of turnaround plans seen as critical to shoring up confidence in Africa’s most industrialised economy. The presidency said Ramaphosa requested the meeting with more than 20 chief executives of key state-owned companies to hear their views on challenges, as well as opportunities. “This engagement has raised several critical areas that limit the ability of (state-owned companies) to drive growth and development. These range from inadequate capitalisation and poor governance to outdated legislation and political interference,” Ramaphosa said in a statement.SOURCE: REUTERS AFRICA

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