Gordhan applauds companies reversing state capture damage at SOEs
Speaking during his Budget vote on Thursday, the minister said they must start by fixing the damage at state-owned entities (SOEs) before repositioning them.
CAPE TOWN – Public Enterprises Minister Pravin Gordhan has commended companies that have given back money earned through state capture related deals or irregular procurement.
Speaking during his Budget vote on Thursday, Godhan laid out his department's plan to get the nation's SOEs back on track.
The minister said they must start by fixing the damage at state-owned entities (SOEs) before repositioning them.
He said crimes committed also had to be dealt with.
“This department has the unenviable task of rectifying the damage of the past, ensuring operational stability now, and preparing these institutions for the emerging future dynamics in their sectors. We have to deal with the criminal elements within these SOEs, and the associated entities who wilfully damage power stations.”
The minister also commended companies implicated in state capture and irregular procurement who have since refunded the country.
“We applaud the efforts of McKinsey, the Transnet management and board, for setting an excellent example.”