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.
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 'We've applied our minds on what we need to do to avoid further downgrade and to boost investor confidence.'TK— EWN Reporter (@ewnreporter) July 13, 2017
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.
#Gigaba 'Whatever is done to address problems at state owned entities such as Eskom will be within budget.'TK— EWN Reporter (@ewnreporter) July 13, 2017
(Edited by Zinhle Nkosi)