Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

JUST IN | Ramaphosa announces council to reform SA’s state-owned enterprises | Fin24

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SA may need

SA may need “less orthodox” approaches to finance the unprecedented R500 billion stimulus package announced by Predident Ramaphosa, say economists.

President Cyril Ramaphosa has appointed members of the Presidential State-Owned Enterprises Council, the Presidency announced on Thursday evening. 

The council will support government in repositioning state-owned enterprises “as effective instruments of economic transformation and development”, the Presidency said in a statement.

Among its responsibilities will be developing a stronger framework for governing the country’s SOEs, many of which have failed to achieve clean audits in recent years. 

  • READ | Worst audit outcomes ever for SOEs

Reforms will include the introduction overarching Act governing SOEs and stabilising companies through a new shareholder ownership model. 

They will also help implement agreed turnaround strategies. 

The council, which will be chaired by Ramaphosa, includes Cabinet ministers overseeing SOEs as well as the following members: 

Monhla Hlahla: Chairperson of Denel

Joel Khathuthshelo Netshitenzhe: Executive Director and Board Vice-Chairperson of the Mapungubwe Institute for Strategic Reflection (MISTRA)

Vusi Khanyile: Chairperson of Thebe Investments 

Michael Sachs: Adjunct Professor at Wits University

Ms Marion Lesego Dawn Marole: Non-Executive Director of MTN Group Ltd and Development Bank of South Africa

Ms Bajabulile Swazi Tshabalala: Vice President for Finance and Chief Financial Officer at African Development Bank

Mr Sipho Nkosi: Director of the Sanlam Board

Ms Kandimathie Christine Ramon: Chief Financial Officer at Anglo Gold Ashanti

Mr Ian Kirk: Group Chief Executive Officer and Executive Director at Sanlam

Ms Nazmeera Moola: Economist and Head of investments at asset manager Ninety One.

* More to follow

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