Ramaphosa clarifies privatisation, minimum wage | Fin24

Ramaphosa clarifies privatisation, minimum wage

Mar 02 2016 16:33
Liesl Peyper

Cape Town - Politicians should not run ahead of themselves and expect the wholesale or partial privatisation of state-owned enterprises (SOEs), Deputy President Cyril Ramaphosa said in parliament on Wednesday.

Responding to oral questions from MPs, Ramaphosa said there are currently around 700 SOEs – some of them key to South Africa’s developmental mandate and others less so.

The inter-ministerial committee tasked with reviewing all the SOEs will come up with a list of which ones are relevant and which not. “As of now we shouldn’t put the horse before the cart to decide which ones should be retained,” Ramaphosa said. “We’ll be looking at all of them in terms of their performance and profitability and only thereafter we’ll have clearer answers.”

Ramaphosa stressed that the management and governance at SOEs will also receive attention, as well as whether private sector investment and foreign direct investment will be needed as capital injections.

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