South Africa News

Pravin Gordhan: Presidential council to rope in private sector to help struggling SOEs

Public Enterprises Minister Pravin Gordhan says that private sector has been roped in to assist some of the struggling state-owned enterprises (SOEs) with financial and business assessment.

President Cyril Ramaphosa launched the Presidential State-Owned Enterprises Council in June 2020 to strengthen governance of the struggling entities.

Gordhan told Clement Manyathela that some of the struggling entities will receive intervention from the private sector.

Pravin Gordhan, Minister – Public Enterprises:

What the council has done in addition is to mobilise private sector’s resources in terms of financial and business analysis who can go into some of the SOEs and do an independent analysis and assessment of where these SOEs stands and how viable they are and some of them are being implemented as well.

When asked about the continuous blackouts by Eskom, Gordhan claimed that some policies and alleged state capture contributed to the current crisis faced at the power utility.

Pravin Gordhan, Minister – Public Enterprises:

Once again, our apologies for the interruptions for the normal lives of businesses but I think I need to be frank as the President has said in one of his weekly newsletters that some of our acquisition of additional energy should have happened in the 2000s and it didn’t, and he describes them as policy missteps.

Then you have a period of state capture during which there were all sorts of claims made by those who were involved in partnering with the very same Gupta’s in one form or another and so you come to a period where financial institutions and others that will not provide funding for power stations.

-EWN

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Mzansi actress Palesa Madisakwane appears to slam her “baby daddy” media personality Somizi Mhlongo on the latest episode of his reality show which aired on Wednesday 8 June.

Palesa Madisakwane and Somizi

Palesa Madisakane has 26-year-old Bahumi with Somizi Mhlongo. She previously revealed that he did not pay damages for Bahumi. So, Bahumi was given her mom’s surname. Learn More

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