The Passenger Rail Agency of South Africa is going through serious turbulence that’s symptomatic of broad corporate governance failures within the country’s state owned enterprises. Its acting CEO was recently fired by the board, following allegations that he raised his remuneration by more than 350%. Shortly afterwards the minister of transport dissolved the board. The Conversation Africa’s Business and Economy Editor Sibonelo Radebe asked Owen Skae to explain the causes.
What went wrong in the governance of the Passenger Rail Agency of South Africa?