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Pravin Gordhan: Government must recapture SOEs

Public Enterprises Minister Pravin Gordhan says all the money stolen from state-owned entities through state capture, must be returned to the fiscus.

Public Enterprises Minister Pravin Gordhan appearing before Parliament’s Public Enterprises committees on 2 May 2018. Picture: Lindsay Dentlinger/EWN

CAPE TOWN - Public Enterprises Minister Pravin Gordhan says that government must recapture its state-owned companies.

He says all the money stolen from them through state capture, must be returned to the fiscus.

Gordhan is briefing a joint meeting of Parliament’s Public Enterprises Committee on his plan of action to turnaround state companies and root out the corruption that has gripped them.

It was a tough-talking Gordhan appearing before Parliament’s portfolio committee for the first time.

He says that it is going to take time to get state-owned companies back on track, but first, his department needs a better understanding of their line of business, something which has been sorely lacking.

“The extent to which the so-called losses have occurred is a set of areas that we have a very weak handle on.”

Boards are under strict instruction to review management structures, particularly the appointment of individuals implicated in state capture.

“Recapture SOEs... they’ve gone into the wrong hands and we’ve to bring them back into the right hands.”

Gordhan says that a review of all forensic investigations carried out at the various entities is underway, to determine whether their recommendations have been followed.

LISTEN: SOEs matter to SA - Pravin Gordhan

(Edited by Zamangwane Shange)