Johnathan Paoli
Minister in the Presidency Khumbudzo Ntshavheni has confirmed on Wednesday that cabinet has given the go-ahead for the legislative process to begin on the National State Enterprises Bill.
The bill, which is expected to establish a state asset management company under which state-owned companies will operate, follows similar models in Malaysia and Singapore, and would do away with the Department of Public Enterprises.
Ntshavheni said the bill would also seek to remove the prerogative of ministers to appoint boards for SOEs, in order to ensure stability and spontaneous dismissals.
“You need people who are objective so that they can put boards that are effective, that are skilled, that are not beholden not only to a minister or the administrators in a particular department,” Ntshavheni said.
The minister said that it remained unconfirmed which of the SOEs are expected to be the first to be placed under the oversight
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