The Economic Freedom Fighters has expressed distrust about South Africa’s new state-owned petroleum company, saying the people of South Africa will not benefit from it.
“It is also expected to oversee strategic planning, coordination and governance of the country’s petroleum resources, contributing to the country’s development and economic growth,” the government revealed in aThe launch came after President Cyril Ramaphosa’s February 2020 State of the Nation Address where he announced government’s intention to repurpose and “rationalise” state-owned enterprises to support growth and development in South Africa.
“ administration relies on outsourcing and tendering, which enriches the politically connected while depriving South Africans of much-needed affordable fuel and energy security,” she said. “The SANPC’s ‘lease and assign’ model will only worsen corruption, making it a new site for tender fraud, rather than ensuring that the state takes full control of petroleum production and distribution.“Rather than producing fuel for the people, this entity will serve as a platform for private companies to exploit state assets.