SOEs Have Turned into Financial Parasites – Baumann

 

By: Justicia Shipena

 

As the National Assembly awaits the tabling of the 2024/2025 national budget today, human rights activist Linda Baumann has criticised the operations of the state-owned enterprises (SOEs) arguing that the entities have now morphed into financial parasites draining the government’s resources.

Finance Minister Iipumbu Shiimi is poised to present the 2024 national budget this afternoon, outlining projected revenues and crucial national spending priorities.

“Over the years, we have witnessed how these SOEs have become leeches on the government’s finances,” Baumann remarked.

While acknowledging that the establishment of SOEs was initially a commendable effort to bolster the country’s social economy, Baumann noted a recurring trend of SOEs either shutting down or experiencing operational failures over time.