South Africa is set to replace the Department of Public Enterprises with a new state-owned holding company that will manage the finances of the government’s state-owned enterprises.
The Department of Public Enterprises will fund the establishment of the HoldCo. At the same time, the state pays for the turnaround of the nation’s embattled SOEs before they are incorporated into the HoldCo. “The pro forma HoldCo and consolidated balance sheets are to be solvent and liquid from the onset.” Most of the profit will come from the newly-created property company’s investment portfolio,