When I hear the words ‘state-owned’ I can’t help but shudder.State-owned enterprises have become corrupt feeding grounds that have sunk many essential services and plunged the country into what is basically uninterrupted load shedding, so do we really need a state-ownedAccording to our Department of Transport, which recently released the first draft of the South African Shipping Company Bill, 2022, we do.
According to the bill, the South African Shipping Company will be under the authority of a minister chosen by the president, who would, in turn, appoint a board that then designates a CEO. SASCO will be funded by what is labelled an ‘Industrial Development Fund’ along with money appropriated by Parliament. You can guess where that money is going to come from., which boast close to 60 years of experience in assisting importers and exporters in dealing with shipping lines, airlines, and customs-related processes.The shipping company is set to own and manage a fleet of vessels, either bought or built, that will work alongside and aid logistics services and infrastructure.
I certainly won’t be alone in the belief that we need fewer SOEs, rather than additional ones, to move forward.