Finance Minister Nhlanhla Nene has revealed that government is monitoring South Africa’s State-owned companies on the basis of a dashboard that shows red, amber and green lights. While he did not disclose which entities are flashing red, it’s fairly safe to say that Eskom, South African Airways, Denel and the Central Energy Fund remain a threat to fiscal balance. Improved governance is, no doubt, an important start to getting these companies moving in the right direction, but it’s unlikely to be sufficient.