In a country where majority of citizens are black Africans, the numbers of casualties – unemployed and poor – will be them

Parastatals in crisis and in need of interventions

It's time we talked about the state of our state-owned enterprises (SOEs). The past two months have been especially depressing to the transformation project in our country. A month ago, Basani Maluleke, the chief executive of the African Bank, inexplicably walked out of her job after stabilising the distressed bank, and placing it on a growth path.

As this sordid saga was unfolding, another seasoned black African executive, Tryphosa Ramano, was on her way out of her job as chief financial officer, with a toxic narrative running about her departure terms including a standard payout to fund her gardening leave (restraint of trade). This is normally given to many white male CEOs and CFOs, raising the question why it was deemed relevant to mention it when it comes to her...

This article is free to read if you register or sign in.

If you have already registered or subscribed, please sign in to continue.

Questions or problems? Email or call 0860 52 52 00.