Public enterprises minister Pravin Gordhan will soon introduce a bill in parliament to establish a government firm that will own and manage at least 13 of the country’s state-owned companies.
The National State Enterprises Bill will establish State Asset Management SOC Ltd and provide for the phased transfer of state enterprises to the holding company, according to an explanatory note dated 9 January in the Government Gazette.
The bill listed the following entities for potential transfer to the new holding company:
- Air Traffic and Navigation Services
- Airports Company of South Africa
- Broadband Infraco
- South African Airways
- South African Forestry Co
- South African Nuclear Energy Corp
- South African Post Office
Many of South Africa’s state-owned companies, including power utility Eskom, rail and ports operator Transnet and arms maker Denel have been plagued by mismanagement and corruption. These firms are currently overseen by the department of public enterprises. — (c) 2024 Bloomberg LP