The president says the crisis will create a post-war economic situation that will need state-led interventions
Despite most of SA’s state-owned enterprises remaining in a parlous state, President Cyril Ramaphosa believes they could play an integral roleThere have been growing calls for the partial or full privatisation of some SOEs that are in a dire state.
During a parliamentary question-and-answer session on Thursday, Ramaphosa said the government will “seriously interrogate” a business rescue plan for SAA, which was published on Tuesday. The plan proposes a restructured airline that will require a bailout from the government amounting to about R30bn. The restructured airline will employ 1,000 of the existing staff with the remainder retrenched.
“We are going to do everything we can to ensure that we reposition our economy and country on a reformed process that ensures the economy functions better. We have said we will pay closer attention to our state-owned enterprises to ensure that they are functioning effectively,” Ramaphosa said, adding that the private sector will also be crucial in reigniting growth.
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