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#SOEwoes: Another – #Alexkor – in financial trouble

───   OLEBOGENG MOTSE 15:39 Tue, 05 Feb 2019

#SOEwoes: Another – #Alexkor – in financial trouble | News Article

Another state-owned entity (SOE), the diamond mining company Alexkor in Alexanderbaai in the Northern Cape, is in financial trouble.


This follows after the financial woes of entities such as Eskom and Transnet have been making headlines for months and allegations of fraud, corruption and state capture are under investigation. According to information, the mine – one of the main sources of employment in the poverty-stricken Namaqualand area – paid salaries late last month and sent employees home on a long weekend. Contractor, diamond diver and community advisor, David Pells, tells OFM News that the mine is planning more drastic steps because it cannot meet its financial obligations.

 Pells says the state does not have the expertise to run the diamond mine. “There are too many political agendas behind it, it’s a very rich mine. So it’s like Eskom, it needs to be unbundled.” 

 “Everyone is getting robbed blind,” maintains the contractor. He is adamant that the community must stand up for itself. 

 The spokesperson for the National Department of Public Enterprises, Adrian Lackay, said the department is not aware of the situation and urged community members to contact the department so their concerns could be addressed.


OFM News/ Olebogeng Motse and Sazly Hartzenberg

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