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No plans to sell off bits of Denel, Alexkor

Mar 20 2015 10:48
Donwald Pressly

Cape Town - There are no plans to sell portions of the state armaments company Denel, the state diamond mine Alexkor or the state forestry company Safcol, said Public Enterprises Minister Lynne Brown.

Replying to a question from Democratic Alliance MP Phumzile van Damme, Brown was asked whether there were plans to sell portions of Denel; Alexkor, the state-owned diamond company based at Alexander Bay in the Northern Cape; and Safcol - the South African Forestry Company - which is based in Pretoria.

Van Damme asked Brown whether if the sale of portions were being discussed, which portions of each would be put up for sale and for what reasons, and when the sale would take place. She also asked whether potential buyers have been identified.

However, the minister said this has not been contemplated in any way.

Finance Minister Nhlanhla Nene noted in his February budget speech that a sale of “non-core” state assets would be used to raise money for the embattled power utility Eskom. But since then he has been mum on details.

He told a joint meeting of parliament’s finance committees that “no matter how much we would actually want to identify these non-core assets, it will not be prudent… to share the names when we are at a sensitive stage of the transaction, which is very close to being concluded”.

It remains a mystery which assets will be sold off as the Industrial Development Corporation, which holds a variety of assets in different sectors, has ruled out selling these assets.

alexkor  |  denel  |  assets
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