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Gigaba promises to deal with corruption, struggling SOEs

The Finance Minister says investors have raised major concerns over the country's growth, SOEs and policy uncertainty.

Finance Minister Malusi Gigaba briefing media on government's inclusive economic growth target plan on 12 July 2017. Picture: Thando Kubheka/EWN

JOHANNESBURG - With mounting pressure on government to come up with ways to effectively grow South Africa’s ailing economy, Finance Minister Malusi Gigaba says he'll deal with corruption and accelerate plans to reform struggling state-owned entities (SOEs).

Gigaba has announced a 14-point plan aimed at accelerating growth and addressing the current recession.

He says investors have raised major concerns over the country's growth, SOEs and policy uncertainty.

Gigaba says government is finalising the appointment of a new CEO at South African Airways (SAA).

He also says they're considering "soft support" for Eskom until tariff adjustments kick-in next year.

“We must approach Nersa regarding Eskom hardships. That will be the responsibility of Eskom itself. The timeline is July 17.”

The Finance Minister says a framework for private sector participation in state firms will also be implemented.

(Edited by Zinhle Nkosi)