SA prepares Bill to form state-firm holding company

South Africa’s minister of public enterprises will soon introduce a bill in parliament to establish a government firm that will own and manage at least 13 of the country’s state-owned companies.

The National State Enterprises Bill will establish the State Asset Management SOC and provide for the phased transfer of state enterprises to the holding company, according to an explanatory note dated January 9 in the Government Gazette.

Many of South Africa’s state-owned companies, including power utility Eskom, rail and ports operator Transnet and arms maker Denel have been plagued by mismanagement and corruption. These firms are currently overseen by the Department of Public Enterprises.

The bill listed the following entities for potential transfer to the new holding company:

• Air Traffic and Navigation Services
• Airports Co
• Broadband Infraco SOC
• CEF
• Denel
• Eskom
• Sentech SOC
• South African Airways SOC
• South African Forestry Co. SOC
• South African National Road Agency
• South African Nuclear Energy Corp
• South African Post Office SOC
• Transnet