SA running out of time and money – banker

Nedbank CEO warns government to urgently address dire financial situation of state-owned companies, notably ‘very sick’ Eskom

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The CEO of SA’s fourth biggest bank by assets thinks SA is running out of time and money and urgently needs to address the dire situation of some of its state-owned entities, most notably Eskom, or risk experiencing even slower economic growth and further job losses.

“Significantly more urgency is required to institute structural reforms to stem the economic and fiscal deterioration currently being experienced in the SA economy,” Nedbank CEO Mike Brown said at a presentation of the bank’s interim financial results in Johannesburg on Tuesday...

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