Presidential council will straighten out SOEs - Ramaphosa | Fin24
 
  • Mandela Day

    Nationalisation, privatisation and land: What Mandela told business in 1990 still resonates today.

  • African Foothold

    American multinational PepsiCo has agreed to buy South Africa’s Pioneer Foods for about R24.4bn.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Presidential council will straighten out SOEs - Ramaphosa

Jun 20 2019 20:41
Khulekani Magubane, Fin24

The Presidential State-owned Enterprise Council will work to create better coherence between government's ailing entities to fine-tune each one's mandate and sharpen efficiencies, President Cyril Ramaphosa said on Thursday evening.

Ramaphosa was delivering his second State of The Nation Address for the year and the first in the sixth administration of the democratic government.

The list of embattled entities is long and it has often fallen on government to provide relief through funding.

During his address, Ramaphosa said, through the Presidential SOE Council, government intends to create alignment between all state-owned companies and better define their respective mandates.

No place for corruption

"Through the Council, we will work with the leadership of SOEs to develop a legal and regulatory environment that promotes innovation and agility and enhances their competitiveness. We will build on the work we have already begun to address problems of poor governance, inefficiency and financial sustainability," said Ramaphosa.

Ramaphosa said government remained committed to building an ethical state in which there was no place for corruption, patronage, rent-seeking and plundering of public money.

"The decisive steps we have taken to end state capture and fight corruption, including measures to strengthen the NPA, SIU, SARS and State Security, are achieving important results," Ramaphosa said.

NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

FaceApp has been at the centre of a debate on data security. What is your view?

Previous results · Suggest a vote

Loading...