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Govt & major banks to help bring SEOs into 'sustainable position'

Public Enterprises Minister Pravin Gordhan and Treasury have reportedly appealed for heads of major banks and asset managers to help bring SEO’s back to health.

FILE: Public Enterprises Minister Pravin Gordhan. Picture: Lindsay Dentlinger/EWN

JOHANNESBURG - Government and the financial sector have agreed to work together to find solutions on restructuring state-owned enterprises (SOEs).

Public Enterprises Minister Pravin Gordhan and Treasury have reportedly appealed for heads of major banks and asset managers to help bring SEOs back to health.

The Banking Association of South Africa’s Cas Coovadia says this will be a collaborative effort.

“Significant harm has been caused in the last few years and we need to do quite a lot of work together as a society to actually get these SOEs into a sustainable position.”

(Edited by Thapelo Lekabe)