{"id":57923,"date":"2023-12-12T17:04:34","date_gmt":"2023-12-12T17:04:34","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-new-state-owned-company-gets-the-go-ahead"},"modified":"2023-12-12T18:03:37","modified_gmt":"2023-12-12T18:03:37","slug":"south-africas-new-state-owned-company-gets-the-go-ahead","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-new-state-owned-company-gets-the-go-ahead","title":{"rendered":"South Africa\u2019s new state-owned company gets the go-ahead"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Cabinet has approved the Draft National State Enterprises Bill for tabling in Parliament.<\/p>\n

The Bill is set to create a new state-owned holding company \u2013 the State Asset Management SOC Ltd \u2013 which will manage the finances of the nation\u2019s various state-owned enterprises (SOEs) after the Department of Public Enterprises closes.<\/p>\n

The Bill aims to do the following:<\/p>\n

To establish the State Asset Management SOC Ltd;<\/p>\n

To provide for the State as the sole shareholder of a holding company;<\/p>\n

To consolidate the State\u2019s shareholdings in state enterprises;<\/p>\n

To provide for the powers of the shareholder on behalf of the State;<\/p>\n

To provide for the phased succession of state enterprises to the holding company;<\/p>\n

To provide for the holding company\u2019s powers as shareholder of subsidiaries;<\/p>\n

To provide for the restructuring and management of subsidiaries for developmental purposes;<\/p>\n

To provide for appropriate and effective performance monitoring mechanisms over subsidiaries;<\/p>\n

To provide for the corporatisation of those state enterprises that are not registered as companies;<\/p>\n

And to provide for matters connected therewith<\/p>\n

A serious player<\/b><\/p>\n

Business Leadership South Africa CEO Busisiwe Mavuso said that the State Asset Management SOC Ltd will have the power to turn around the nation\u2019s struggling SOEs. It will also allow the government to focus on policy and regulatory issues whilst focusing on the commercial aspects of running SOEs.<\/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. Cabinet has approved the Draft National State Enterprises Bill for tabling in Parliament. The Bill is set to create a new state-owned holding company \u2013 the State Asset Management SOC Ltd \u2013 which will manage the finances of the nation\u2019s various state-owned enterprises (SOEs) after the Department of Public Enterprises closes. The […]<\/p>\n","protected":false},"author":84,"featured_media":57921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-57923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSouth Africa\u2019s new state-owned company gets the go-ahead - South Africa<\/title>\n<meta name=\"description\" content=\"Cabinet has approved the Draft National State Enterprises Bill for tabling in Parliament. 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