Ace Magashule hopes new ANC leadership doesn’t privatise SOEs

Former African National Congress (ANC) secretary-general Ace Magashule said that he hoped the new governing party leadership did not privatize state-owned enterprises.

Speaking to the media outside Nasrec in Johannesburg, Magashule said that he did not want to see other SOEs following the fate of South African Airways (SAA).

The airline is now partially owned by a private company after the government sold 51% of its shareholding.

Magashule said that the party should look to maintaining state-owned enterprises instead of selling them to the private sector.

“State-owned enterprises must still be owned by the government, by the state,” he said.

“They want to privatize Eskom, that’s why they give licenses to those white monopoly capital.”

-EWN

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