Ramaphosa announces takeover of SOEs by holding company for effective monitoring

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President Cyril Ramaphosa has done away with the Department of Public Enterprises in the seventh administration in preparation for the management of SOEs to be placed under a holding company.

CAPE TOWN - President Cyril Ramaphosa says a new plan for a state-owned enterprises holding company will ensure parastatals are more effectively monitored.

In January, the then-public enterprises minister tabled the National State Enterprises Bill in Parliament.Ramaphosa said placing SOEs within a holding company would be key to their reform.

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