Recapitalise State Owned Entities: Mapaila

African National Congress (ANC) alliance partner the South African Communist Party (SACP) says it wants State Owned Entities (SOEs) to be recapitalised instead of being sold to the private sector.

The government wants some troublesome SOEs to be partially sold off as they have become a massive strain on government funds.

SACP general secretary Solly Mapaila says the ANC should propose the recapitalisation of Eskom as it serves citizens. He has criticised Eskom for extended hours of rolling blackouts in the country’s townships.

“When the people have no electricity, they don’t call corporations, they call government. So we need to take full responsibility. Recapitalise Eskom in a manner we can discuss with society. So [that] we are accountable for the actions we have taken ourselves. Because we still believe [that] these issues … will still require engagements post this policy conference within the framework of the alliance,” adds Mapaila.

Below is an address by the ANC president at 6th Policy Conference:

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Eskom’s debt crisis

ANC president Cyril Ramaphosa says the governing party will spend a great deal of time finding solutions and practical solutions for Eskom’s debt crisis.

The government has enlisted the private sector in an emergency plan to tackle the worst-ever rolling blackouts in Africa’s most industrialised economy.

The president has announced the scrapping of controls on companies generating their own power as well as plans to allow households to generate solar power and sell it back into the grid.

On Monday, Ramaphosa stated that a surge of additional private energy is required to save the country’s system.
He admitted that the rolling blackouts had done enormous economic damage.

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Source: SABC News (