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ANC urges SOEs not to add to SA's unemployment figures

The ANC said that while the aviation sector around the globe was facing challenges, the government must ensure that restructuring minimised job losses there and in other sectors.

FILE: ANC secretary-general Ace Magashule at the post-NEC media briefing at Luthuli House. Picture: @MYANC/Twitter

JOHANNESBURG - The African National Congress (ANC) said that the inequality that had been laid bare by COVID-19 called for the establishment of a state bank to be accelerated.

The governing party’s national executive committee met virtually at the weekend and proposed an array of measures in the short and long term.

It acknowledged the adverse impact of COVID-19 on jobs, welcomed the restructuring of state-owned entities to deal with some of these challenges but called on them and the private sector to minimise job losses.

"The decision of the national conference of speeding up implementing of establishing the Post Bank, establishing the state bank must be accelerated."

ANC secretary-general Ace Magashule has outlined the outcomes of this weekend’s NEC meeting.

Key among them infrastructure-led development to close the gap of inequality laid bare by COVID-19.

"With new investments in energy, water, sanitation, roads and bridges, human settlements, health and education, digital infrastructure and public transport."

The ANC said that while the aviation sector around the globe was facing challenges, the government must ensure that restructuring minimised job losses there and in other sectors.

"From the private sector there are a lot of retrenchments. Our state-owned enterprises are dealing with challenges, we have noted also plans at the SABC and other SOEs and we call on all our boards to be circumspect and not to add to unemployment."

The ANC said that it supported economic reconstruction and recovery, which included the search for equity partners for SOEs.

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