Bill seeking to incorporate all SOEs into 1 holding company open for public participation
The National State Enterprises Bill has been published in the Government Gazette.
FILE: Eskom's Megawatt Park in Johannesburg. Picture: Eyewitness News
JOHANNESBURG - The bill seeking to incorporate all state-owned entities (SOEs) into one holding company is now open for public participation.
The National State Enterprises Bill has been published in the Government Gazette.
The bill seeks to establish the State Asset Management, a state-owned company limited.
After shutting down the Department of Public Enterprises in his last State of the Nation Address (SONA), President Cyril Ramaphosa announced that government would be establishing a state-owned holding company.
Ramaphosa said the holding company will ensure effective oversight of the country’s struggling SOEs.
In the bill, thirteen SOEs have been listed to be transferred to the holding company as subsidiaries, including Eskom, Transnet, and Denel, among others.
The bill said that government will be the sole shareholder of the company.
The bill also allows for the sharing and transferring of land between SOE companies with minimal cost and regulations.
Public comments on the bill are open until 14 February.