South African President Cyril Ramaphosa reiterated that his administration wasn’t moving to privatise state-owned companies as the government initiates reforms to clean up their balance sheets and revive their performance. Private-sector investment was necessary to mobilise funds for economic infrastructure given the government’s limited fiscal space, Ramaphosa said at a meeting of his party, the African National Congress.
We see this as an enabling process by restructuring our state-owned entities,” the president said. “By mobilising investment, we will help to improve their financial position, enhance their performance and increase their competitiveness.” The roadmap for Transnet’s reform agenda will be submitted to the cabinet for consideration by the first week of November, the presidency said Monday.
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