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Magashule: SOEs must be restructured to avoid govt bailouts

The ANC secretary-general said that Eskom and South African Airways were important government entities that were essential to the country’s economy.

FILE: ANC secretary-general Ace Magashule. Picture: Kayleen Morgan/EWN

JOHANNESBURG – African National Congress (ANC) secretary-general Ace Magashule on Wednesday said the governing party’s national executive committee (NEC) meeting had agreed that state-owned enterprises (SOEs) needed to be restructured so they were not a burden on the national fiscus.

Magashule, addressing a post-NEC press briefing, said Eskom and South African Airways were important government entities that were essential to the country’s economy. He did admit that the SOEs were struggling and needed urgent attention to turn them around.

“There should be a proper assessment of the public enterprises’ strategic importance for the developmental agenda. And their mandate must be clear, costed and monitored consistently to ensure successful restructuring programmes,” he said.

WATCH: ANC briefing on outcomes of NEC meeting