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More SOEs, Government Departments Fail To Submit Financial Statements

Alexkor - More SOEs, Government Departments Fail To Submit Financial Statements

A number of state-owned entities and some government departments have failed to submit financial statements to Parliament as required by law.

On Wednesday, they cited financial problems for the delay.

They include the South African Airways (SAA) and the SA Express, which have reported serious cashflow problems.

The SAA and SA Express are not the only state-owned enterprises that have failed to submit statements due to financial challenges.

The two airlines are joined by state-owned mining company Alexkor and the Department of Cooperative Governance and Traditional Affairs, which have also failed to submit their reports.

In a letter to National Assembly Speaker Thandi Modise, Public Enterprises Minister Pravin Gordhan said the board of Alexkor has not been able to finalise and submit annual reports in time due to serious financial challenges.

However, he said government remained committed to finding a sustainable solution to the challenges facing Alexkor.

EWN

The post More SOEs, Government Departments Fail To Submit Financial Statements appeared first on iAfrica.com.

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