These companies are crippling South Africa, more than rate hikes: CEO (BT)

Investec CEO Fani Titi said that poor management, corruption, and the overall failures of Eskom and Transnet would keep South Africa in crisis unless the government makes some difficult decisions, reported the Sunday Times.

According to Titi, businesses are being impacted more by the challenges around state-owned entities than by increases in interest rates.

South Africa’s economy is growing at less than 2%, exacerbated by a national power utility like Eskom that is load-shedding at record rates and a national port and freight company Transnet that is facing consistent failures, reported the Sunday Times.

“Our problems are not monetary policy management but fiscal policy and the inability of the economy to grow and stop unemployment,” said Titi. Click here to read full article