Podcasts about public enterprises

The IMF's Executive Board is to sign off on Egypt's fourth review “in the coming weeks,” IMF Communications Director Julie Kozack said in a briefing to the press. The meeting will also see the board look into a set of fresh funds under the IMF's Resilience and Sustainability Facility.BP's recent discovery at its King Mariout offshore concession could hold up to 4 trillion cubic feet of natural gas, according to early estimates cited by two unnamed government officials that spoke to Asharq Business.  The Industry Ministry has allocated 30 million sqm in Ras El Hekma for an industrial zone, Industry Ministry Kamel El Wazir said, adding that the Ministry is working on setting up three other zones across the country, in Borg El Arab, New Alamein, and Matrouh. The government has also broken ground on the Ras El Hekma airport.According to the Minister of Finance, Egypt will launch a customs facilitation package within weeks to increase competitiveness and ease of goods release, in addition to launching a facilitation package related to real estate tax before the end of this year.Trade balance deficit rose 0.5% y/y to USD3.7 billion in November 2024.The EGX and the European Bank for Reconstruction and Development (EBRD) are working together on a project to boost market liquidity in the EGX. The National Wages Council will meet later today to discuss the minimum wage for the private sector.The Finance Ministry is considering issuing a bookkeeping scheme to account for the FX rate difference between the official and parallel markets for profit earned before the Central Bank of Egypt liberalized the exchange rate in March 2024, with the Ministry currently preparing tax budgets for the upcoming corporate tax filing season, which ends on 30 April.COMI has cut interest rates on its local currency, high-yield CDs by 3 percentage points.  Emirati and Kuwaiti financial institutions have begun due diligence to acquire at least 60% of Banque du Caire (BdC). The Financial Regulatory Authority (FRA) has raised the borrowing limit for micro enterprises by 10% to EGP266k.  ORAS's Orascom Industrial Parks is setting up a 3.5 million sqm industrial zone in Ain Sokhna with projected investments of EGP7 billion over the next ten years. Egypt plans to increase its aluminum production by 200k tons annually within three years, bringing total production to 510k tons, according to Minister of Public Enterprises. This expansion aims to meet domestic market needs and export the surplus. The Minister added that a new project is underway with the private sector to establish a new aluminum plant with modern furnaces, with a production capacity of 600k tons per year.The Ministry of Public Enterprises is developing EGCH with investments of USD400 million within three years. The development will include the production of nitrates, which will add value to the products.French pharma giant Servier's Egypt arm has inaugurated a new packaging and filling line at its 6th of October facility. With this expansion, Servier's total investments in Egypt reaches EGP1.6 billion.

Late former Minister Pravin Gordhan will today be laid to rest in a special official category 2 funeral at the Durban ICC. Gordhan, who passed away last week at the age of 75 after battling cancer, left an indelible mark on the country's politics. As Minister of Public Enterprises until the May elections, Gordhan played a pivotal role in shaping South Africa's economic landscape. His portfolio also includes stints as Minister of Finance and SARS Commissioner. For more on Gordhan's life and journey into politics Elvis Presslin spoke to former Minister of Trade, Industry and Competition, Ebrahim Patel

ANC Treasurer-General, Dr Gwen Ramokgopa says in memory of the late minister Pravin Gordhan - government must root out corruption.  ANC supporters filled the Johannesburg City Hall on Tuesday to honour the late Public Enterprises minister, following his passing last Friday. Gordhan, who was diagnosed with cancer passed away at the age of 75, surrounded by family, friends and comrades. Sibahle Motha reports 

The Madbouly government is in the process of drafting an investment plan to offer the Red Sea's Ras Banas to private sector players in a transaction similar to ADQ's Ras El Hekma USD35 billion agreement.Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller-than-expected premiums.UAE's AMEA Power will invest USD800 million to develop two renewable energy projects in Upper Egypt after inking new purchase power agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) on Thursday.Prime Minister touched down in Riyadh yesterday alongside Finance Minister and Investment Minister for talks with their Saudi counterparts aimed at strengthening trade and investment between the two countries. The Transport Ministry has tasked the Finance Ministry's PPP unit to prepare feasibility studies for three PPP projects at the Dekheila Port. The projects include a multi-purpose container terminal with an estimated cost of USD300 million, a dry port, and an industrial-purpose pipeline extension whose cost has not yet been determined, a source said.Chinese state-owned construction firm and China Energy subsidiary Gezhouba Group proposed establishing a “logistics cargo city” at Cairo International Airport during a meeting with the Aviation Ministry.Norway's Scatec inked a 25-year power purchase agreement with the Egyptian Electricity Transmission Company EETC for its planned 1 GW solar and 100-200 MWh battery storage hybrid project in Egypt, it said on Thursday.The Egyptian Tax Authority will unveil the implementation mechanisms of the recently-announced package of tax incentives this week, advisor to the Head of the Tax Authority said.State grains buyer GASC purchased 430k tons of Russian wheat last week at USD235 per ton, according to a Supply Ministry statement. The Ministry of Electricity plans to add capacity to the electrical grid of up to 3 gigawatts from solar energy projects and wind farms by 2025 summer.The government is working to launch 4 projects through PPP system at an investment cost of about EGP16 billion, according to a government report.Egypt is seeking a loan from the New Development Bank worth USD300 million, with the aim of expanding the comprehensive health insurance system. The CBE's net foreign assets declined to EGP499.26 billion (c.USD10.3 billion) at the end of August, compared to EGP508.58 billion (USD10.5 billion) at the end of last July.Ukrainian President said that Russia had attacked a cargo ship in international waters carrying around 5-20k tonnes of wheat from Ukraine to Egypt on Thursday. EGAS finalized a study to increase the price of natural gas supplied to factories by 10-30%. The study excludes factories with a preset variable pricing formula.The government targets issuing projects to develop three fertilizers companies, which are owned by the Ministry of the Public Enterprises, through partnership with the private sector, during 1Q25.A consortium of Scatec, Fertiglobe, and ORAS has inked two land usufruct agreements with EETC and NREA to set up a wind and a solar power plant that will feed their USD500 million green hydrogen plant. A consortium of ORAS, Toyota Tsusho, and Engie inked a land usufruct agreement and a PPA with the EETC and the New and Renewable Energy Authority (NREA) for a project that will see the consortium add 150 MW of wind energy capacity to its 500 MW wind farm in the Gulf of Suez, according to a Cabinet statement. SWDY appointed Ahmed Mohamed Shokry as the Group CFO.

Pravin Gordhan, who passed away this week, was a respected ANC Cabinet Minister renowned for his battle against state capture and his two terms as Finance Minister. Tributes have poured in, highlighting his pivotal role in strengthening the South African Revenue Service against state capture, with whistleblower Johann van Loggerenberg dubbing him a “superhero.” In the heady days of the nineties, following Nelson Mandela's release from prison and amidst the negotiations for a new Constitution at Kempton Park, Gordhan was entrusted to lead the Convention for a Democratic South Africa (CODESA) and the Transitional Executive Council (TEC), which set the stage for the country's first democratic elections in 1994. Working closely with Gordhan at that time was Theuns Eloff, who served as the head of administration for the multiparty negotiation process. Eloff described Gordhan in an interview with Biznews as a principled negotiator and facilitator who understood compromise in order to reach the best solution. “There were three individuals during the negotiations who, behind the scenes and not in the public limelight, really made the process work: Mac Maharaj, Fanie van der Merwe, and Pravin Gordhan.” Regarding the criticism levelled at Gordhan over his handling of state-owned enterprises, Eloff said that what he accomplished during the negotiations and as Finance Minister overshadows “any rightful criticisms one might have regarding his time at Public Enterprises.” He concluded that Gordhan's legacy is “largely positive.”

A politician, an ANC cabinet minister, an activist, and once a pharmacist, Pravin Gordhan, will seemingly be remembered with mixed emotions. He has been hailed for bringing SARS' administration firmly into the 21st century as Commissioner of the tax collection agency.  He was also well-respected by the capital markets during his tenure as Finance Minister.  But at the end of his political career, the minister has come in for criticism for the slow turnaround of key state-owned enterprises and concerns around the soundness of the Takatso-SAA acquisition deal, which subsequently fell apart. The Ahmed Kathrada Foundation, on behalf of Gordhan's family, hosted a press briefing following his death.

Former minister, Pravin Gordhan has passed away in hospital, surrounded by family, friends and comrades in the liberation struggle. The 75-year old retired from active politics after this year's general election. His last portfolio in the South African Cabinet was Minister of Public Enterprises, from 2018 to 2024, after serving two terms as Minister of Finance, from 2009 to 2014 and again from 2015 to 2017. He also served as Minister of Cooperative Governance and Traditional Affairs from 2014 to 2015. From March 1999 to 2009 – he was the Commissioner of the South African Revenue Service. Elvis Presslin spoke to Executive director at Ahmed Kathrada Foundation, Neeshan Balton....

Hot Topic: What does the future hold for SAA, as Department of Public Enterprises is canned. Guest: Dr Joachim Vermooten- Transport Economist

South African President Cyril Ramaphosa is facing calls to resign as he comes to terms with his African National Congress party losing its majority for the first time. The ANC, which led the fight to free South Africa from apartheid 30 years ago, won just 159 seats in the 400-member national assembly - a vote share of just over 40%. The result represents a seismic shift in the country's politics, with the ANC forced into coaliton talks. SBS' Janice Peterson spoke with Pravin Gordhan- the current Minister for Public Enterprises - who is now retiring from politics.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. All the suspensive conditions opening the way for the National Transmission Company of South Africa (NTCSA) to be constituted as a separate, distinct and wholly-owned subsidiary of Eskom Holdings have been met, Public Enterprises Minister Pravin Gordhan and Eskom chairperson Mteto Nyati have announced in a joint statement. Still outstanding, however, is the fulfilment of Companies Act requirements, which meant that the April deadline for the full operationalisation of the NTCSA had been missed. It is anticipated that the NTCSA will commence trading about two months after the fulfilment of these requirements. The suspensive conditions that have been met include consent from relevant lenders and creditors, the passing of resolutions by the government and the boards of NTCSA and Eskom, as well as the approvals for electricity licences and other regulatory requirements by the National Energy Regulator of South Africa. "The satisfaction of all the suspensive conditions for the merger agreement between Eskom Holdings and the NTCSA signifies a key development in the government's pursuit of a restructured, competitive and dynamic electricity market that will usher in a secure and reliable energy future for South Africans," Gordhan said, while Nyati described the development as a significant milestone in Eskom's turnaround plan. "The separation of the transmission division from Eskom will now set the NTCSA on the path for operationalisation once the necessary statutory requirements as per the Companies Act have been concluded," Nyati added. The legal separation of Eskom into three entities, namely generation, distribution and transmission, was outlined in the Department of Public Enterprises' 2019 'Roadmap for Eskom in a reformed electricity supply industry' and is also in line with legislative reforms being introduce through amendments to the Electricity Regulation Act, which was passed by the National Assembly last month. Gordhan also appointed the inaugural NTCSA board on January 9. In their statement, Gordhan and Nyati argued that the legal separation of NTCSA would improve business performance, increase lender appetite, and bolster confidence among independent power producers that they would receive fair treatment.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. All the suspensive conditions opening the way for the National Transmission Company of South Africa (NTCSA) to be constituted as a separate, distinct and wholly-owned subsidiary of Eskom Holdings have been met, Public Enterprises Minister Pravin Gordhan and Eskom chairperson Mteto Nyati have announced in a joint statement. Still outstanding, however, is the fulfilment of Companies Act requirements, which meant that the April deadline for the full operationalisation of the NTCSA had been missed. It is anticipated that the NTCSA will commence trading about two months after the fulfilment of these requirements. The suspensive conditions that have been met include consent from relevant lenders and creditors, the passing of resolutions by the government and the boards of NTCSA and Eskom, as well as the approvals for electricity licences and other regulatory requirements by the National Energy Regulator of South Africa. "The satisfaction of all the suspensive conditions for the merger agreement between Eskom Holdings and the NTCSA signifies a key development in the government's pursuit of a restructured, competitive and dynamic electricity market that will usher in a secure and reliable energy future for South Africans," Gordhan said, while Nyati described the development as a significant milestone in Eskom's turnaround plan. "The separation of the transmission division from Eskom will now set the NTCSA on the path for operationalisation once the necessary statutory requirements as per the Companies Act have been concluded," Nyati added. The legal separation of Eskom into three entities, namely generation, distribution and transmission, was outlined in the Department of Public Enterprises' 2019 'Roadmap for Eskom in a reformed electricity supply industry' and is also in line with legislative reforms being introduce through amendments to the Electricity Regulation Act, which was passed by the National Assembly last month. Gordhan also appointed the inaugural NTCSA board on January 9. In their statement, Gordhan and Nyati argued that the legal separation of NTCSA would improve business performance, increase lender appetite, and bolster confidence among independent power producers that they would receive fair treatment.

Public Enterprises Minister, Pravin Gordhan continues to face huge criticism for threatening to take legal action against Parliament's Portfolio Committee on Public Enterprises. This comes after the committee that oversees his department, adopted a report which recommends that the failed SAA-Takatso deal be handed over to the Special Investigating Unit for further probing. The Democratic Alliance says Gordhan should not use public funds to fight parliament's processes while the EFF has questioned what Gordhan seeks to hide by attempting to block an investigation into the deal. Sakina Kamwendo spoke to SABC reporter, Joseph Mosia.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. Electricity Minister Kgosientsho Ramokgopa reports that Eskom's eight "lender groups" have given their consent to the establishment of the National Transmission Company South Africa (NTCSA) as a separate subsidiary under Eskom Holdings. Bondholder consent was one of several key approvals required ahead of the operationalisation of the NTCSA, officially scheduled for April 1, alongside the appointment of an independent board and licensing approvals from the regulator. Ramokgopa did not name the lender groups during a briefing on March 25, saying only that the eighth and final letter of consent was provided "last week". In February, the National Energy Regulator of South Africa (Nersa) officially published the three licences required for the operationalisation of the NTCSA, having approved their transfer from Eskom in 2023. And, Public Enterprises Minister Pravin Gordhan appointed the inaugural NTCSA board on January 9. In March, South Africa's Energy Regulator also consented to the transfer of powers and duties relating to power purchase agreements with independent power producers from Eskom to the NTCSA. Nersa said in a statement that NTCSA's trading licence would be amended to reflect the change. These regulatory decisions align with an application made to Nersa by Eskom, which is unbundling its generation, transmission, and distribution businesses in line with the 'Roadmap for Eskom in a reformed electricity supply industry' published by the Department of Public Enterprises in 2019. While being advanced under the existing Electricity Regulation Act (ERA), they also accord with some of the architectural changes outlined in amendments to the ERA, which were approved by the National Assembly on March 14. The legislation will now serve before the National Council of Provinces, whose approval is also required before it can be signed into law by the President. While opposition lawmakers have raised some concerns with the amendments, particularly with regard to the discretionary powers extended to the Energy Minister and with the future role envisaged for Nersa in setting prices and tariffs, Ramokgopa argued that the legislation would "remake the South Africa energy landscape". "One of the primary interventions [of the legislation] is to make it easier to produce and sell electricity in South Africa. "In order to do this, it established what the Bill refers to as a Transmission System Operator (TSO), which is managed by a newly formed entity that is wholly owned by Eskom and by extension wholly owned by the South African public, the NTCSA," Ramokgopa explained. He said the TSO would ensure that all electricity producers were treated "equally and fairly and be allowed access to the national grid on a non-discriminatory basis". Secondly, the legislation enables a "market platform" through which electricity can be bought and sold by multiple participants. Describing the legislation as a "democratisation" of the sector, Ramokgopa also forecast that the new framework would, over time, help reduce prices through competition and innovation, improve reliability by boosting investment in supply, and introduce consumer choice.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. Electricity Minister Kgosientsho Ramokgopa reports that Eskom's eight "lender groups" have given their consent to the establishment of the National Transmission Company South Africa (NTCSA) as a separate subsidiary under Eskom Holdings. Bondholder consent was one of several key approvals required ahead of the operationalisation of the NTCSA, officially scheduled for April 1, alongside the appointment of an independent board and licensing approvals from the regulator. Ramokgopa did not name the lender groups during a briefing on March 25, saying only that the eighth and final letter of consent was provided "last week". In February, the National Energy Regulator of South Africa (Nersa) officially published the three licences required for the operationalisation of the NTCSA, having approved their transfer from Eskom in 2023. And, Public Enterprises Minister Pravin Gordhan appointed the inaugural NTCSA board on January 9. In March, South Africa's Energy Regulator also consented to the transfer of powers and duties relating to power purchase agreements with independent power producers from Eskom to the NTCSA. Nersa said in a statement that NTCSA's trading licence would be amended to reflect the change. These regulatory decisions align with an application made to Nersa by Eskom, which is unbundling its generation, transmission, and distribution businesses in line with the 'Roadmap for Eskom in a reformed electricity supply industry' published by the Department of Public Enterprises in 2019. While being advanced under the existing Electricity Regulation Act (ERA), they also accord with some of the architectural changes outlined in amendments to the ERA, which were approved by the National Assembly on March 14. The legislation will now serve before the National Council of Provinces, whose approval is also required before it can be signed into law by the President. While opposition lawmakers have raised some concerns with the amendments, particularly with regard to the discretionary powers extended to the Energy Minister and with the future role envisaged for Nersa in setting prices and tariffs, Ramokgopa argued that the legislation would "remake the South Africa energy landscape". "One of the primary interventions [of the legislation] is to make it easier to produce and sell electricity in South Africa. "In order to do this, it established what the Bill refers to as a Transmission System Operator (TSO), which is managed by a newly formed entity that is wholly owned by Eskom and by extension wholly owned by the South African public, the NTCSA," Ramokgopa explained. He said the TSO would ensure that all electricity producers were treated "equally and fairly and be allowed access to the national grid on a non-discriminatory basis". Secondly, the legislation enables a "market platform" through which electricity can be bought and sold by multiple participants. Describing the legislation as a "democratisation" of the sector, Ramokgopa also forecast that the new framework would, over time, help reduce prices through competition and innovation, improve reliability by boosting investment in supply, and introduce consumer choice.

Parliament's Public Enterprises Portfolio Committee has recommended that the transaction that saw Takatso Consortium appointed as the preferred bidder to acquire 51 percent of South African Airways be referred to the Special Investigating Unit. The committee says the department has not been able to successfully dispute the former Director-General KgathatsoTlhakudiallegation that Takatso was not part of the initial list of companies that submitted bids. The committee also feels that Tlhakudi's submission that SAA assets were undervalued was not disproved in light of the cancellation of the transaction that the Public Enterprises Minister PravinGordhan announced last week. Here is what Public Enterprises Committee Chairperson, Khaya Magaxa told the committee today....

Former Department of Public Enterprises director-general Kgathatso Tlhakudi says Public Enterprises Minister Pravin should be held accountable for the failed SAA - takatso deal. Pravin Gordhan announced the termination of the Takatso Consortium's 51% takeover of South African Airways (SAA). Takatso said in its response to the announcement, that the magnitude and materiality of the proposed changes had made it clear that the transaction would possibly need to be re-submitted to the Competition Tribunal. Sakina Kamwendo spoke to former Department of Public Enterprises director-general Kgathatso Tlhakudi, who was opposed to the deal during his time at the department... 

Minister in the Presidency, Khumbudzo Ntshavheni says Cabinet supports the termination of the Takatso Consortium's 51% takeover of the South African Airways (SAA).  Public Enterprises Minister Pravin Gordhan announced that the deal between SAA and Takatso Consortium was off. Takatso says it experienced immense political pressure in its attempt to acquire 51 percent in state owned airline SAA. Ntshavheni briefed the media on Thursday. Sakina Kamwendo spoke to Chairperson of Parliament's Portfolio Committee on Public Enterprises, Khaya Magaxa.

Noluthando Mthonti-Mlambo speaks to the Former Director-General of the Department of Public Enterprises, Kgathatso Tlhakudi and the Founder of SE Advisory, Dr Bheki Mfeka about the future of South African assets and whether their privatisation is inevitable. See omnystudio.com/listener for privacy information.

Here are three things to know as you wake up on the East Coast. SA Cricketer, David Miller, gets hitched! South Africa's Minister of Public Enterprises, Pravin Gordhan, will retire after this year's general elections and Showmax and Multichoice are standing firm by their decision to release 'Tracking Thabo Bester.' SA Cricketer, David Miller, gets hitched! · Webpage

ActionSA president Herman Mashaba announced the party's national chairperson Michael Beaumont, Eastern Cape provincial chairperson Athol Trollip and party spokesperson Lerato Ngobeni are among the candidates the party will be fielding to represent it in the National Assembly. Mashaba was unveiling his party's 'Team Fix South Africa' in Johannesburg, where he noted that if given the mandate to govern, an ActionSA administration would reduce the number of national government departments to about 20, and eliminate the position of deputy minister in all departments. He said the chosen candidates represented some of the best minds and skills the country had. He announced Beaumont as the party's Team Fix South Africa's member for Infrastructure and Public Enterprises, Ngobeni as Team Fix South Africa's member for Home Affairs and Trollip as Team Fix South Africa's member for Land and Agriculture, and as the party's leader of Executive Business in Parliament. The list also includes Dr Tsholofelo Maforah, Dr Tutu Faleni, Solly Moeng, Pieter Scribante, Mpho Madisha, Dr Kgosi Letlape, Nothukhela Mahkohliso, Dereleen James, Advocate Julie Seaton, Thuli Khoza, Mohammed Rafeek Shah, Nompumelelo Edward, Sello Lediga and Alan Beesley. "They represent some of the most patriotic South Africans who are committed to undoing the legacy of the current cruel and uncaring government. Those who form part of 'Team Fix South Africa' have already served this country in the public and private sectors for many years, and are now ready to take that contribution further," Mashaba said. He noted that his party would reduce the benefits Ministers received, including "excessive" catering and travel allowances, it would slash the budget for VIP protection, and ensure that Ministers were always transparent about the actions they took. He added that at a time of fiscal constraint and a cost of living crisis that is ravaging the nation, the perks of Ministers should be slashed before any other budgetary cuts. He said leaders must set an example for fiscal responsibility. "With their announcement today, we want to demonstrate to the South African people that we are not a party hallmarked by career politicians with no real-world experience in the portfolios they are meant to lead," he said. He committed that an ActionSA government would be appointed based on merit, and not political connections. "Whether ActionSA governs with a majority, or in coalition, we will be uncompromising on ensuring that we appoint the best persons to Cabinet positions who have real-world experience in the portfolios they are supposed to lead. We will not engage in cadre deployment, nepotism and cronyism. We will only appoint people on merit and with impeccable track records with a commitment to clean governance and service delivery," he said. While other political leaders might make space for compromised leaders within their ranks, Mashaba said ActionSA was unwavering in its commitment that the party's leaders must be above reproach. He explained that all candidates had undergone an extensive and rigorous selection process, adding that the party had spent countless hours interviewing candidates and scoring tests to ensure that ActionSA only sent the best people possible to Parliament to possibly fill Cabinet positions.

Pieter du Toit News 24 Assistant Editor and he joins John to consider the announcement that the Minister of Public Enterprises, Pravin Gordhan, will retire from politics following the elections in May this year.See omnystudio.com/listener for privacy information.

As Minister of Public Enterprises Pravin Gordhan readies to leave office after the May 29 elections, the Democratic Alliance (DA) has less than warm words for him, describing his tenure as "disastrous". On Friday, Gordhan's department announced his intention to retire from active politics when the term of the current administration ends after the elections. Gordhan has led Public Enterprises since 2018, having been appointed by President Cyril Ramaphosa, and will be leaving what the DA says is "a trail of destruction in the State-owned enterprises (SOEs) sector". "Gordhan stood idly by as Eskom lurched from one crisis to another. Since his appointment to the Public Enterprises portfolio, South Africans have spent more days in the dark than at any other time since the crisis began 17 years ago. By failing to decisively deal with the loadshedding crisis, Gordhan should shoulder part of the blame for South Africa's struggling economy, loss of jobs, closure of businesses, and attendant decline in private sector investment," said DA Shadow Minister of Public Enterprises Mimmy Gondwe. Recently, Gordhan has faced criticism for not disclosing the sale agreements related to the South African Airways (SAA)/Takatso deal. "Gordhan has gone to extreme lengths to try and co-opt Parliament into his long drawn-out plan to maintain a veil of secrecy on the SAA/Takatso deal," Gondwe said. She further blamed Gordhan for the bailouts that some SOEs received, at the expense of the taxpayer, accusing him of squandering the public goodwill he held at the start of his role as Public Enterprises Minister. She also called him out for not backing former Eskom CEO Andre de Ruyter when he made allegations of widespread corruption at the State power utility, linking politicians and criminal networks. She said Gordhan had closed ranks with the African National Congress (ANC) and victimised De Ruyter, instead of investigating the allegations he had made. "Gordhan has himself to blame for choosing to be an ANC lackey rather than a principled public servant for the greater good. South Africans should vote in their millions on 29 May to send the rest of his comrades packing from government. The DA is the only party big enough and with the institutional capacity to rescue South Africa and get our country working again," Gondwe said.

Guest: Dr Mimmy Gondwe | DA Shadow Minister of Public Enterprises  Dr Mimmy Gondwe is the DA Shadow Minister of Public Enterprises and joins Africa to speak on SAA/Takatso deal that is in their words being “covered up”.See omnystudio.com/listener for privacy information.

The details about the sale of South African Airways (SAA) for R51 to the Takatso Consortium are on the spotlight again in Parliament. This as the portfolio committee on Public Enterprises is expected to decide whether the documents on the SAA-Takatso deal can be made available to the public. There have been reports of tensions between Public Enterprises Minister Pravin Gordhan and Parliament's Public Enterprises Portfolio Committee  over the SAA - Takatso deal. Committee members are investigating Takatso's selection as the preferred equity partner to own a majority stake in the airline. The demand follows allegations of corruption and mismanagement surrounding SAA's sale. Takatso won the 51% stake in SAA just six weeks after the airline emerged from its business rescue. Sakina Kamwendo spoke to SABC parliamentary reporter, Abongwe Kobokana.

The Department of Public Enterprises says it will not allow anyone to tarnish its work and falsely imply there's any attempt by the department not to be transparent about any issue involving public trust. The Auditor General raised concern with the Public Enterprises Committee that she had not received the report on the revised valuation of SAA's assets. There have been reports of tensions between Public Enterprises Minister Pravin Gordhan and Parliament's Public Enterprises Portfolio Committee over the SAA - Takatso deal. Sakina Kamwendo spoke to Chartered Accountant and Independent Analyst Khaya Sithole

Lead: Gordhan's quiet SAA Hearing Phutego Mojapele | Aviation Analyst  The Portfolio Committee on Public Enterprises, under the leadership of Minister Pravin Gordhan, made an unusual decision to hold a closed-door meeting regarding the SAA-Takatso transaction. Typically public, committee meetings can be closed under specific circumstances requiring confidentiality. Committee chair Khaya Magaxa requested the media and public to exit the meeting while the committee deliberated on the confidentiality of certain documents. These documents include the sale agreement between the Department of Public Enterprises and Takatso, along with materials concerning Takatso's selection as the strategic equity partner.  Minister Gordhan has withheld these documents for over a year, citing confidentiality agreements with other airline bidders. Additionally, Gordhan proposed that committee members sign non-disclosure agreements, which Magaxa deemed inappropriate and legally questionable. Despite this, the committee decided to meet the minister in camera to assess the need for confidentiality.   Earlier, it was revealed that the Department of Public Enterprises had declined to provide the Auditor-General with SAA's valuation.See omnystudio.com/listener for privacy information.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. The Department of Transport (DoT) is canvasing a series of interventions aimed at attracting freight back to South Africa's struggling rail system from road, which has emerged as the country's freight backbone following Transnet Freight Rail's (TFR's) precipitous decline in recent years. Notwithstanding a long-standing road-to-rail policy, the DoT reports that 87% of freight is currently being moved by truck, with volumes moved by TFR having declined sharply from 226-million tons in 2017/18 to only 149.5-million tons in 2022/23. This calamitous collapse led President Cyril Ramaphosa to form the National Logistics Crisis Committee in 2023, as well as to the development of a new Freight Logistics Roadmap, which was approved by Cabinet late last year. The roadmap places emphasis on the introduction of private sector participation in both the port container terminals and the freight rail network; moves that would be facilitated by a vertical separation of port and rail infrastructure management of terminal and rail operations respectively. A subcomponent of the roadmap is the Freight Road to Rail Migration Plan, the draft contents of which were shared by acting chief director Mihlali Gqada during a colloquium, hosted ahead of the February 2 deadline for public comments. The plan describes the country's current freight logistics trajectory as "unsustainable" and notes that South Africa's high logistics costs are placing importers and exporters at a competitive disadvantage. With logistics costs estimated at 11.3% of gross domestic product (GDP), South African logistics costs are materially higher than the global average of 7% of GDP, while the transport component of these costs is also high at about 55%. The collapse of rail volumes, Gqada added, was also resulting in road congestion and degradation, along with increased air and noise pollution, as well as higher greenhouse gas emissions. The draft plan outlines several interventions aimed at clawing back some of the rail-friendly freight that has been lost to road in recent years, while still underlining the importance of continued and expended investment in road, which has become the dominant mode by which trade was currently being facilitated. Besides greater private sector participation and the vertical separation of rail infrastructure and operations, some of the other actions proposed in the plan for introduction over the coming three to five years, include: The establishment of dedicated road freight lanes on all major corridors for certain times of the day, possibly between 18:00 and 06:00; The appointment of dedicated freight traffic enforcement officers; 24-hour weighbridges along major corridors; and Restricted operating hours for freight-truck movement inside cities. The draft plan also calls for Transnet to begin reporting to the DoT rather than the Department of Public Enterprises, while underlining the importance of the establishment of an independent transport economic regulator, particularly as the rail sector is opened for third-party access. Despite the current challenges and the loss of market share to other countries, Gqada argued that there was still potential to position South Africa as a gateway to the African market. Doing so, however, required the emergence of a more sustainable freight transport system, where there was better coordination and interconnectedness between road, rail, air and sea.

This audio is brought to you by Endress and Hauser, a leading supplier of products, solutions and services for industrial process measurement and automation. The Department of Transport (DoT) is canvasing a series of interventions aimed at attracting freight back to South Africa's struggling rail system from road, which has emerged as the country's freight backbone following Transnet Freight Rail's (TFR's) precipitous decline in recent years. Notwithstanding a long-standing road-to-rail policy, the DoT reports that 87% of freight is currently being moved by truck, with volumes moved by TFR having declined sharply from 226-million tons in 2017/18 to only 149.5-million tons in 2022/23. This calamitous collapse led President Cyril Ramaphosa to form the National Logistics Crisis Committee in 2023, as well as to the development of a new Freight Logistics Roadmap, which was approved by Cabinet late last year. The roadmap places emphasis on the introduction of private sector participation in both the port container terminals and the freight rail network; moves that would be facilitated by a vertical separation of port and rail infrastructure management of terminal and rail operations respectively. A subcomponent of the roadmap is the Freight Road to Rail Migration Plan, the draft contents of which were shared by acting chief director Mihlali Gqada during a colloquium, hosted ahead of the February 2 deadline for public comments. The plan describes the country's current freight logistics trajectory as "unsustainable" and notes that South Africa's high logistics costs are placing importers and exporters at a competitive disadvantage. With logistics costs estimated at 11.3% of gross domestic product (GDP), South African logistics costs are materially higher than the global average of 7% of GDP, while the transport component of these costs is also high at about 55%. The collapse of rail volumes, Gqada added, was also resulting in road congestion and degradation, along with increased air and noise pollution, as well as higher greenhouse gas emissions. The draft plan outlines several interventions aimed at clawing back some of the rail-friendly freight that has been lost to road in recent years, while still underlining the importance of continued and expended investment in road, which has become the dominant mode by which trade was currently being facilitated. Besides greater private sector participation and the vertical separation of rail infrastructure and operations, some of the other actions proposed in the plan for introduction over the coming three to five years, include: The establishment of dedicated road freight lanes on all major corridors for certain times of the day, possibly between 18:00 and 06:00; The appointment of dedicated freight traffic enforcement officers; 24-hour weighbridges along major corridors; and Restricted operating hours for freight-truck movement inside cities. The draft plan also calls for Transnet to begin reporting to the DoT rather than the Department of Public Enterprises, while underlining the importance of the establishment of an independent transport economic regulator, particularly as the rail sector is opened for third-party access. Despite the current challenges and the loss of market share to other countries, Gqada argued that there was still potential to position South Africa as a gateway to the African market. Doing so, however, required the emergence of a more sustainable freight transport system, where there was better coordination and interconnectedness between road, rail, air and sea.

Noluthando Mthonti-Mlambo speaks to Eskom Board Chairperson, Mteto Nyati about the unbundling of the state power utility into three companies, Generation, Distribution, and Transmission, as part of the turnaround plan envisaged by the Department of Public Enterprises. Yesterday, Eskom announced the inaugural board of directors of the National Transmission Company of South Africa, marking a key milestone of the power utility's legal separation into three entities.See omnystudio.com/listener for privacy information.

The National Union of Metalworkers of South Africa has condemned Public Enterprises Minister, Pravin Gordhan's refusal to hand over documents relating to the sale of South African Airways to Parliament. Numsa notes that the Portfolio Committee on Public Enterprises has unanimously agreed that it cannot provide unqualified support for the transaction for SAA to be sold to the Takatso Consortium.  Last week, SAA tabled four years of annual financial statements in Parliament, which showed four years of financial losses and four disclaimed audit opinions.  SABC reporter, Naledi Ngcobo has more.

  Clement speaks to Tshidi Madia, EWN's Associate Editor for Politics and Sandile Swana, a political and governance analyst about the ANC's position on the state of SOE's in light of recent resignations at Eskom and Transnet.See omnystudio.com/listener for privacy information.

South Africa's ever-optimistic Minister of Electricity, Kgosientsho Ramokgopa, has had “no accountability” for six months. That has emerged from a BizNews interview with the Democratic Alliance's (DA's) Shadow Minister of Electricity, Samantha Graham-Mare. She shares the details of her many failed attempts to engage the Minister to collaborate on solving the country's power-supply crisis. She charges that he has failed to attend any of the ad hoc Energy meetings in the Western Cape, “despite having three times agreed to be there and then not pitching for them”. However, with Parliament having decided that the Minister now reports to the Department of Public Enterprises, she is hopeful that there will be opportunities to engage with him in the Portfolio Committee. Meanwhile, the Minister's predictions ”change weekly” in terms of when the crisis will be resolved. “But if we actually had to have a look at ESKOM's outlook for the next 52 weeks, you will see that every single week is indicated in red, which means that there will be load shedding - according to ESKOM- for every single week of the next 52 weeks,” she warns.

South Africa's President Cyril Ramaphosa has been urged to immediately sack his “darling”, Public Enterprises Minister Pravin Gordhan. That call is being made by Ghaleb Cachalia, the Democratic Alliance's (DA's) Shadow Minister of Public Enterprises. “In the private sector, if that was your responsibility, they would be holding your feet to the fire to say, deliver or go. And as he hasn't delivered, they would show him the door.” However, Cachalia is not hopeful that the president will heed his call “…because he is the darling, if you like, the chief supporter of President Ramaphosa, there seems to be a lot of slack that's cut for him.” Cachalia describes Gordhan as “a dutiful and faithful acolyte of the president”, and fears that the government will “let him run with some face-saving” until his term ends. However, he warns: “But his face will be saved while the country's will be destroyed. That is the tragedy. And unless the president hears that - and acts on that, then the president is also culpable.” - Chris Steyn

  Clement speaks to Adv Melanchton Makobe, the Head of Legal at the Department of Public Enterprises about the role of the shareholder in state owned enterprises such as Transnet.See omnystudio.com/listener for privacy information.

The Democratic Alliance's (DA's) Shadow Minister of Public Enterprises, Ghaleb Cachalia, has called for Public Enterprises Minister Pravin Gordhan to go. Cachalia makes the call in an interview with BizNews on both Transnet and ESKOM being leaderless. “I call him of late ‘Green Shoots Gordhan' because he says…regularly that there are green shoots in Transnet, there are green shoots in ESKOM, there are green shoots in Denel, there are green shoots in SAA. The fact remains that there are only weeds there. There are no green shoots. And he is responsible for putting the gardeners in place to tend to these weeds which they can't even dig up.” Cachalia says Gordhan is “an incompetent minister who appoints incompetent people to run the heart and spine of our economy”. Cachalia describes African National Congress (ANC) policies as “frankly mad”. He says the ruling party has “created a monster” that they “cannot deal with properly”. - Chris Steyn

  Clement Manyathela speaks to governance and risk specialist Sandile Swana about what his criticism of the draft bill by the Minster of Public Enterprises that proposes the consolidation of the state's shareholdings in strategic SOEs.See omnystudio.com/listener for privacy information.

The motives behind Public Enterprises Minister Pravin Gordhan's rejection of the ESKOM board's recommendation for a new CEO have been questioned. Ghaleb Cachalia, the Democratic Alliance's (DA's) Shadow Minister of Public Enterprises says that the Minister seems to be looking for somebody who meets his “specifications” rather than those of the board. Cachalia points out that representatives on the ESKOM board were “vetted and appointed” by the Minister himself. “These are people whom he trusts. The chairman of the board is an old acolyte of the minister. He has put him in places in the past all over the show to do business on his behalf. He's put him now in a very important position, but he doesn't value what he says. We need to know why.” Cachalia notes that the job of ESKOM CEO is a “hospital pass of note” - and that the struggling power supplier's new boss would need “nerves of steel” to be able to stand up to political interference. - Chris Steyn

The Democratic Alliance's (DA's) Shadow Minister of Public Enterprises, Mr Ghaleb Cachalia, shares the details of a conversation he had with former ESKOM COO Mr Jan Oberholzer following his sudden departure from the beleaguered power utility. And he gives his very frank verdict on the move. He also hails the government's first step towards privatisation at Transnet, another struggling SOE - and says public-private partnerships are needed to fix the State's non-delivery at all SOEs. He is very upbeat about the outcome of next year's national elections, and says that while the African National Congress (ANC) is “scrambling” to hold onto votes, the coalition is “looking stronger by the day”. Learn more about your ad choices. Visit megaphone.fm/adchoices

The dysfunction of ESKOM and Transnet has sent South Africa's economy into the emergency ward. That has emerged from an interview with Ghaleb Cachalia, the Democratic Alliance's (DA's) Shadow Minister of Public Enterprises. “ESKOM, if you like, is the heart of our economy. Transnet is the spine of our economy. We have destroyed the heart of the economy. It's in ICU. Our spine needs to be looked at by every possible surgeon, to continue that metaphor, in sight, because of course it's broken.” Cachalia also shares his views on the state of other SOEs including SAA which he says is flying on a “shoestring”, and DENEL which was once the “darling of the investor community and now is the skunk of the investor community”. He singles out SAFCOL as the “only” SOE that's “holding its head vaguely above water”. However, he warns that there are “huge land claims about to derail SAFCOL over time”. - Chris Steyn Your early morning brew of the BizNews Insider keeps you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here - https://bit.ly/3lfVRYP. Timestamps 00:33 - Ghaleb Gachalia on what's fixable and unfixable regarding Eskom 05:50 - On the lack of skills 11:45 - The ticking time bomb that is Eskom is far from being diffused 13:30 - On if the gaps between what should be done, what can be done and will be done are reachable at this point 14:44 - On How much time we have for these issues to be fixed 15:58 - On the Transnet disaster 16:37 - The broken spine that is Transnet 24:08 - Ending with words of hope  25:23 - Conclusion Learn more about your ad choices. Visit megaphone.fm/adchoices

  Africa speaks to Ghaleb Cachalia, the Democratic Alliance Spokesperson on Public Enterprises and Kaya Sithole, a chartered accountant and analyst about the decision by the finance minister to withdraw the gazette that granted Eskom exemption from disclosing irregular, wasteful and fruitless expenditure from its financial statements.See omnystudio.com/listener for privacy information.

Guest: EWN Reporter Babalo Ndenze joins John to share an update on Eskom appearing before the Public Enterprises Portfolio Committee to present the immediate and medium-term solutions to load sheddingSee omnystudio.com/listener for privacy information.

Photo: No known restrictions on publication. @Batchelorshow #PRC: State Security cyber attacks on the US private and public enterprises, November 2022. .Annie Fixler, FDD https://www.fdd.org/analysis/2022/12/05/china-has-a-cyberspace-campaign-plan-does-washington/

Clement speaks to Adv MacGregor Kufa, the legal representative for the suspended Public Enterprises Director-General, Kgathatso Tlhakudi. Tlhakudi has written to Parliament and the President, calling for an investigation into the minister of Public Enterprises, Pravin Gordhan.See omnystudio.com/listener for privacy information.

The National Union of Mineworkers says it believes Eskom should be made the responsibility of the Department of Energy and not Public Enterprises.

Carol Paton, Editor-at-large at Fin24See omnystudio.com/listener for privacy information.

Analysts and experts discuss the reasons why Public Enterprises Minister Pravin Gordhan wants to adjust Eskom's executive board while the power utility faces power outages.      Remgro reports a 125.1% increase in headline earnings to R6.49 billion as its investee companies bounces back from the pandemic     Pineapple Insurance explains its advertising campaign    Investment School - How to protect and grow your portfolio in melt down  See omnystudio.com/listener for privacy information.

The Department of Public Enterprises says SA Express's liquidation is a consequence of bad management, corruption and state capture.

Guest; Godfrey Phumulo Masualle - Deputy Minister of Public EnterprisesSee omnystudio.com/listener for privacy information.

The Department of Public Enterprises has denied claims that Minister Pravin Gordhan approached trade union Solidarity for help to fix the skills crisis at Eskom.

Clement is joined by the Deputy Director General for legal Assurance and Governance at the Department of Public Enterprises and the Acting Director General at the Department of Public Enterprises, Jacky Molisane to talk about the South African Airways being sold to the private sector Takatso Consortium. See omnystudio.com/listener for privacy information.