https://www.engineeringnews.co.za
Africa|Eskom|Power|rail|Transnet|Operations
Africa|Eskom|Power|rail|Transnet|Operations
africa|eskom|power|rail|transnet|operations

South Africa publishes draft law to establish holding company for State entities

Public Enterprises Minister Pravin Gordhan

Public Enterprises Minister Pravin Gordhan

18th September 2023

By: Bloomberg

  

Font size: - +

South Africa has released a draft law that will facilitate the creation of a holding company to house struggling power utility Eskom, rail and port operator Transnet and other State-owned enterprises.

The National State Enterprises Bill, which will enable the formation of the State Asset Management, was released for comment on Friday by Public Enterprises Minister Pravin Gordhan. The Department of Public Enterprises, which currently oversees the State companies and answers to Gordhan, will be phased out as the holding company is brought into effect.

The reform will consolidate the State’s shareholdings within a single entity and define the holding company’s powers, the draft legislation reads.

The move follows years of mismanagement and corruption at State companies that cost South African taxpayers billions of rand. Eskom’s failure to meet electricity demand is has resulted in years of blackouts that have constrained output, while Transnet’s inability to run rail operations at capacity impairs mineral exports.

Should the bill pass, the new company will likely be established after the next government takes office after next year’s election.

Edited by Bloomberg

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.076 0.131s - 165pq - 2rq
Subscribe Now