Ramaphosa moots moving SOEs to single holding entity

Ramaphosa moots moving SOEs to single holding entity

President Cyril Ramaphosa says government is working on a plan to move state-owned entities under a single holding entity. 

President Cyril Ramaphosa answering questions in Parliament
GCIS

Ramaphosa answered questions in Parliament on Thursday. 


"To avoid the situation that we have now, where a number poof our own state-owned enterprises have different governance processes and procedures, we find that there are financial systems are also very different and when some of them are not even able to submit their annual financial statements we do not have a line of sight of that," the president told MPs.


"And there is also the question of balance sheet management and so the holding company concept, we found, would help a great deal. Other countries have it." 


READ: Ramaphosa: Violence during Nehawu strike ‘unacceptable’


Meanwhile, civil society organisations have raised concerns amid plans to prolong the lifespan of the Koeberg Nuclear Power Station in Cape Town. 


The plant's licence expires next year, but Eskom has indicated it will extend its lifespan by replacing key areas of the station.


The plan to keep Koeberg operational comes amid the ongoing load shedding crisis.


The Southern African Faith Communities' Environment Institute says the shortages should be solved through renewable energy.


Executive director Francesca de Gasparis says extending Koeberg's lifespan places the lives of residents in the area in danger.


ALSO READ: Ramaphosa defends Cele amid calls for his sacking


"There are all kinds of problems with Koeberg's safety records, we have seen it both with independent studies and also from their own. 


"So to extend the nuclear power plan by another 20 years is an incredibly long time to commit to continuing to use an energy system that is not safe, that has radioactive waste that is incredibly expensive to contain and keep safe and we have lots of instability at the moment due to load shedding." 

newswatch new banner 1

Show's Stories