State won’t sell its enterprises

SOUTH Africa’s state-owned enterprises are not for sale, Minister of Public Enterprises Lynne Brown said.

SOEs fulfilled a critical role in the commercial and development agendas of the country‚ she said.

“Neither I‚ as government’s sole shareholder representative – or our government – will bow to pressure or external lobbying outside of government to privatise any state-owned enterprises responsible for delivering basic services‚” Brown asserted.

“Eskom is not for sale. Koeberg is not for sale. And nor are Transnet‚ which has weathered the economic downtown‚ Denel‚ a Top 100 company‚ or the other companies in the public enterprises portfolio‚” she added.

“They must be transformed. Proposals for new board appointments‚ private sector participation‚ remuneration standards for executives of boards and SOE executives must be completed and signed off by cabinet‚” Brown stated.

Credible allegations of irregular‚ fraudulent or corrupt activities at SOEs must be reported to the appropriate state agencies‚ she added.

The allegations must be thoroughly investigated and where there is evidence of any entities or individuals‚ regardless of their position‚ breaking the law they must be prosecuted. — TMG Digital