Johannesburg - State-owned entities (SOEs) are in for a major overhaul, with President Jacob Zuma set to chair a new overarching body to oversee them.
Minister in the Presidency Jeff Radebe told the media at a post-cabinet briefing on Monday they wanted SOEs to ramp up growth in the economy.
Radebe said the structure was similar to the Presidential Infrastructure Co-ordinating Commission (PICC), which is chaired by Zuma.
The PICC oversees all major infrastructure projects in the country and fast-tracks them.
Radebe said Zuma would also oversee this new body on SOEs, to be called the Presidential SOE Co-ordinating Council.
He said the current inter-ministerial committee on SOEs, led by Deputy President Cyril Ramaphosa, would continue to oversee the 13 SOEs.
He said this was not part of a plan to clip the wings of Ramaphosa, as he would continue to do his work on the entities. The decision was taken at the three-day cabinet lekgotla last week.
“A decision has been made that the president will chair the SOE Co-ordinating Council,” said Radebe. “The inter-ministerial committee chaired by the deputy president is the one working on this matter, so there is no vote of no confidence in the deputy president.”
He said SOEs played a key role in the economy, and the council would help to identify areas to improve growth.
SOEs were involved in major projects in the country, and the co-ordinating council, under Zuma, would be able to intervene on those requiring urgent attention.
Finance Minister Pravin Gordhan has criticised some of the SOEs for poor financial performance. In his Budget in February, Gordhan warned that he would no longer be giving SOEs bailouts.
THE STAR