By: Nghiinomenwa-vali Erastus
STATE-Owned Enterprises continue to gobble up billions of taxpayers money in bailouts every financial year despite having a collective asset base valued at N$119 billions.
Apart from ongoing bailouts, SOE’s have also been granted certain privileges known as guarantees, with taxpayers bearing the potential consequences if they fail to meet their obligations.
So far, the treasury has provided guarantees amounting to N$9,2 billion to SOE’s.
It remains unclear whether this includes the recent guarantee extended to TransNamib.
There are currently 81 Public Enterprises (PEs), encompassing commercial, non-commercial, and extra-budgetary funds.
These entities employ approximately 25,000 workers.
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