{"id":29617,"date":"2022-04-25T18:46:21","date_gmt":"2022-04-25T18:46:21","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying"},"modified":"2022-04-25T19:16:43","modified_gmt":"2022-04-25T19:16:43","slug":"anc-suggests-soe-ownership-model-is-dying","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying","title":{"rendered":"ANC suggests SOE ownership model is dying"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, according to a draft economic policy document compiled by the ruling party.<\/p>\n

The current model for state firms “is dying”, the African National Congress, which is due to hold its national policy conference later this year, said in the document seen by Bloomberg. “The era of bailouts for state-owned enterprises is over.”<\/p>\n

The call for an overhaul in the government\u2019s approach comes after it sank billions of dollars into utilities such as power producer Eskom and the national airline with little return. Workers at the state arms maker haven\u2019t been paid for 18 months and public broadcaster the SABC, the post office and PetroSA plan to cut jobs, the ANC said.<\/p>\n

Eskom and other state companies were the prime targets of a looting spree, known locally as state capture, that ensued during former president Jacob Zuma\u2019s nine-year rule, and they remain hamstrung by unsustainable debt and a loss of skills. As a result, the country has been subjected to intermittent power outages for more than a decade and mining companies have struggled to get their coal and iron ore to ports in the midst of a commodity boom.<\/p>\n

“Most of these state-owned enterprises were once well-run, profitable companies that were internationally competitive,” the ANC said. “The decade of state capture destroyed many of them, as have structural changes in some of their sectors.”<\/p>\n

Government\u2019s options are limited as efforts to clean up corruption and appoint competent management will not rescue the majority of the stricken companies, the ANC said. Instead, it suggests companies could be closed or sold.<\/p>\n

“There is no shortage of buyers wanting to buy some of the state-owned enterprises. Equity partners may be required in some instances,” the ANC said. “Time is running out. The status quo cannot survive.”<\/p>\n

ANC spokesperson Pule Mabe didn\u2019t respond to requests for comment.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, according to a draft economic policy document compiled by the ruling party. The current model for state firms “is dying”, the African National Congress, which is due to hold its national policy conference later […]<\/p>\n","protected":false},"author":84,"featured_media":29616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,10],"tags":[274,315,290,127,1299,749,275,1602],"class_list":["post-29617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-parties","tag-africa-press","tag-africa-press-south-africa","tag-anc","tag-eskom","tag-post-office","tag-sabc","tag-south-africa-2","tag-state-owned-enterprises"],"yoast_head":"\nANC suggests SOE ownership model is dying - South Africa<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ANC suggests SOE ownership model is dying\" \/>\n<meta property=\"og:description\" content=\"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-25T18:46:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-25T19:16:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"595\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"ANC suggests SOE ownership model is dying\",\"datePublished\":\"2022-04-25T18:46:21+00:00\",\"dateModified\":\"2022-04-25T19:16:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\"},\"wordCount\":343,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"anc\",\"Eskom\",\"post office\",\"sabc\",\"South-Africa\",\"state-owned enterprises\"],\"articleSection\":[\"all news\",\"homepage-english\",\"parties\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\",\"name\":\"ANC suggests SOE ownership model is dying - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg\",\"datePublished\":\"2022-04-25T18:46:21+00:00\",\"dateModified\":\"2022-04-25T19:16:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg\",\"width\":1024,\"height\":595,\"caption\":\"ANC suggests SOE ownership model is dying\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ANC suggests SOE ownership model is dying\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ANC suggests SOE ownership model is dying - South Africa","description":"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying","og_locale":"en_US","og_type":"article","og_title":"ANC suggests SOE ownership model is dying","og_description":"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-04-25T18:46:21+00:00","article_modified_time":"2022-04-25T19:16:43+00:00","og_image":[{"width":1024,"height":595,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"ANC suggests SOE ownership model is dying","datePublished":"2022-04-25T18:46:21+00:00","dateModified":"2022-04-25T19:16:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying"},"wordCount":343,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg","keywords":["Africa Press","Africa Press-South-Africa","anc","Eskom","post office","sabc","South-Africa","state-owned enterprises"],"articleSection":["all news","homepage-english","parties"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying","name":"ANC suggests SOE ownership model is dying - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg","datePublished":"2022-04-25T18:46:21+00:00","dateModified":"2022-04-25T19:16:43+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"South Africa\u2019s government should halt bailouts for state entities and review its ownership of more than 700 companies, a ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/04\/postQueueImg_12-6266f3757bc48.jpg","width":1024,"height":595,"caption":"ANC suggests SOE ownership model is dying"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/anc-suggests-soe-ownership-model-is-dying#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"ANC suggests SOE ownership model is dying"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/29617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=29617"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/29617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/29616"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=29617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=29617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=29617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}