SA becoming as bankrupt financially as it is morally
IT IS ESTIMATED that, since 1994, about R700 billion has been looted from South Africa. Frightening to say the least.
Daily reports of mismanagement and corruption open up a whole new overview on how there is no accountability by the ANC on its appointments to various positions in local and central government and its control over the various SOEs.
Going back to 1994, we have had many examples of corruption, such as Travelgate, the arms deal, and more recently, Petronet, Transnet, Prasa, SAA and Eskom – I might have left out many other examples.
Looking at these institutions and scandals, it is extremely worrying to note all those people said to have been involved in these scandals belong to the ANC.
However, no one has been booked or jailed for their misdeeds, theft or corruption – bar one or two scapegoats. Is it due to too many high-ranking people being involved?
It seems a culture of theft and corruption has been deemed as an acceptable norm. If this is not the case, why then has the ANC allowed it to go on for so long? Why have all those accused, or proven to have been involved with corruption and mismanagement, never been prosecuted or jailed?
No one from Travelgate went to jail. The arms deal has, to all intents and purposes, been covered up and swept under the carpet.
Just look at the Eskom debacle. Eskom’s current debt is estimated to be about R400bn. It has just received another loan of $100 million from a German bank.
A few years back, this SOE was in a fairly healthy financial position. How on earth will Eskom ever get rid of its debt, bearing in mind that there is no real increase in the demand for electricity? It cannot get any real increase in market share because there is basically none.
The other aspect – that has not been made public – is what Zimbabwe and Mozambique owe Eskom? Yet we no doubt continue to supply them.
A similar sickening picture is painted about SAA – of which much has been written.
Why have the past management of all the SOE institutions – Prasa, Transnet, Petronet and others – involved with corruption and mismanagement, not been jailed for their alleged involvement?
Where is the ANC’s accountability? There is sadly, and unfortunately, none.
It is also interesting to note that many of the individuals who have been placed in important positions by past presidents, especially by Zuma and his alleged Gupta connections, had no real experience or management skills relating to the particular portfolios they were assigned to. The result of this has been bloated, top-heavy management structures, all incurring unnecessary costs.
It would be interesting to see the total current debt of all the SOEs since 1994.