PARLIAMENT - Finance Minister Tito Mboweni is making good on his promise that cash-strapped state-owned companies receiving bailouts from government would be placed under curatorship, announcing on Tuesday that chief restructuring officers would be appointed within 48 hours for Eskom, Denel, SABC and SAA.
Mboweni tabled a special appropriation bill in the National Assembly, making available R59 billion to Eskom over the next two years, but said that this would go hand in hand with a chief restructuring officer being appointed later in the day.
Chief restructuring officers would also be announced for state arms manufacturers Denel, the South African Broadcasting Corporation (SABC) and South African Airways (SAA) on Wednesday.
"Tomorrow we'd be announcing for each one of these entities, the relevant chief restructurng officers who will work together with the management of these institutions to get these institutions back on track," he said.
The SABC requested R3.2 billion, said Mboweni, but this would not be released in one go but in chunks "when certain conditions are met to make sure there's progress in improving the organisation".