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ANC: Having strategic equity partners in SOE's doesn't mean privatisation

The organisations held a briefing in Johannesburg on Wednesday on the outcome of its NEC meeting, which included the announcement of a package of interventions to revive the weak economy.

ANC secretary-general Ace Magashule and NEC member Nkosazana Dlamini Zuma at a press briefing on 2 October 2019. Picture: Theto Mahlakoana/EWN

JOHANNESBURG - The African National Congress (ANC) said one of the priority areas in its economic intervention package was to consider strategic equity partners in state-owned institutions.

The party was at pains to stress that this did not amount to privatisation but rather the revival of a long-standing ANC policy.

The organisation held a briefing in Johannesburg on Wednesday on the outcome of its national executive committee meeting, which included the announcement of a package of interventions to revive the weak economy.

With its resuscitation of a long-standing policy that has until now not received much attention in the party, the ANC said in the light of weak economic growth, private sector and labour partnerships would be promoted.

While the organisation did not adopt some of the wholesale reform proposals for state-owned enterprises contained in the national Treasury’s draft recovery plan, it appeared to be warming up to some of the suggestions.

On Eskom, the party said the power utility’s restructuring and financial position would be prioritised along with those of other state-owned companies.

“It was agreed that the longstanding ANC policy with respect to strategic equity partners in various state-owned companies and consideration will be given to models social ownership,” ANC secretary-general Ace Magashule said.

The party said it believed the economic recovery and transformation strategy would turn the country’s economic fortunes around.

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