Cape Town 189227- Pravin Gordhan is sworn in by Chief Justice Mogoeng Mogoeng as the Minister of Public Enterprises today in Parliament .Minister of Public Enterprises, Pravin Gordhan has outlined a 5 point plan to save South Africa's State Owned Enterprises. Picture Cindy Waxa/AFRICAN NEWS AGENCY/ANA Picture Cindy Waxa/AFRICAN NEWS AGENCY/ANA
CAPE TOWN - Minister of Public Enterprises, Pravin Gordhan has outlined a 5 point plan to save South Africa's State-Owned Enterprises.

Gordhan was addressing business leaders and the media at the Bloomberg - Future of South Africa event in Cape Town on Wednesday.

Gordhan said that there were key things that needed to be done to start to turn around the country's ailing SOE's.


Here is a part of his plan:

1. New Boards
Gordhan indicated that most SOE's will be getting new boards in the coming months that will bring "credibility and integrity".

2. Efficiency
With the appointment of new boards will come better governance and oversight. This will make our SOE's more efficient and viable.

3. Financial control
Gordhan said the key to successful SOE's was to make sure they did not become a burden on the fiscus.

4. Corruption
Gordhan has come out strongly against state capture and corruption. Here he spoke of the need to "Get rid of the stain of state capture and corruption".

5. Developmental Agenda
SOE's need to start fulfilling their mandate to contribute to the developmwnt of the state.


- BUSINESS REPORT ONLINE