Budget 2023
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Eskom: Nene mum on sale of assets

Cape Town - Finance Minister Nhlanhla Nene on Thursday again refused to identify the non-core state assets which would be sold off to raise money for Eskom.

Briefing a joint meeting of Parliament's finance committees, Nene said the sale was almost finalised.

"No matter how much we would actually want to identify these non-core state assets, it will not be prudent and proper to share the names when we are at a sensitive stage of the transaction, which is very close to being concluded," Nene said.

READ: Nene's approach to Eskom commended: Mkhize

"We reconfirm the R23bn coming from the sale of some of our non-core state assets."

Nene told MPs he would brief them as soon as the transaction was concluded.

"Government is invested in some instances in the private sector where government is not supposed to be," Nene said.

While government remained silent on the source of the R23bn, there has been speculation that government would sell its 13.9% stake in Vodacom. The money would be transferred to Eskom before year end.

"The funds will flow as per our arrangement with Eskom. The first R10bn will flow in June and the other tranche later before the end of the year."

Finance standing committee chairman Yunus Carrim appealed to Nene to give parliament sufficient time to process the financial bailouts from Treasury before the mid-year parliamentary recess. “We will be grateful if this is done, so that we can process it in time.”

In his budget speech, Nene said that the financial position of some state enterprises was “unsatisfactory”, undermining their ability to contribute towards development of the country.

“Reforms are required to ensure that state companies contribute to building a competitive economy and are not an unnecessary drain on the fiscus,” he said.

Private investment and partnerships were elements of a new strategy for strengthening infrastructure investment and improving service delivery.

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