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SOEs in focus at summit

Minister Malusi Gigaba has spoken about the role of state-owned enterprises in SA's economy.

Public Enterprises Minister Malusi Gigaba. Picture: Sapa

MIDRAND - Public Enterprises Minister Malusi Gigaba on Thursday said it was time for state-owned enterprises (SOEs) to play a greater role in developing South Africa's economy.

The minister said companies like Eskom and Transnet need to work harder to improve trade and business with the rest of the continent.

He added his government would focus on developing black business and black industrialists in an effort to deracialise the economy.

"[We will be] Developing a class of black industrialists who are going to be hands-on, who are going to have a long-term approach to doing business."

Gigaba made the comments at the Supplier Development Summit at Gallagher Estate in Midrand, north of Johannesburg, on Thursday.

He also unveiled the Competitive Supply Development Programme, which will help government to implement the goals.