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Gordhan: Full impact of state capture at SOEs still to be understood

Public Enterprises Minister Pravin Gordhan says his department is still trying to stabilise the largely cash-strapped institutions.

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

CAPE TOWN - Turning the tide on corruption and reforming state-owned companies will take up to two years.

Public Enterprises Minister Pravin Gordhan says his department is still trying to stabilise the largely cash-strapped institutions.

Briefing Parliament's Portfolio Committee on Public Enterprises on Wednesday, Gordhan said a lot more work will also have to be done to change the culture at institutions that may have crept in due to state capture.

Gordhan says the full impact and consequences of state capture at state-owned enterprises is still to be understood.

But he believes the majority of employees at these institutions are good and honest South Africans, who want to see the companies succeed.

The department will now be setting up its own whistle-blowing hotline.

“So that we give more people the opportunity to provide information that will lead to uncovering more of the nonsense that’s in fact been going on in some of these institutions.”

Gordhan says his focus in the coming months will be to harness the potential of state-owned companies to contribute to economic growth and jobs creation.

(Edited by Shimoney Regter)