BusinessLive reports that President Cyril Ramaphosa has appointed a presidential state-owned enterprise (SOE) council that will support the government's repositioning of SOEs as effective instruments for economic development.  

A number of the country’s SOEs, such as power utility Eskom and airline SAA, which is now in business rescue, are in a dire financial state, and were decimated during years of state capture.  SA has more than 740 SOEs, which the government has been looking at to either consolidate or rationalise.  The council will be chaired by the president and will comprise ministers responsible for SOEs as well as a number of business heavyweights, economists and academics with proven leadership and strategic capabilities.  Its mandate will involve strengthening the framework governing SOEs, including the introduction of an overarching act governing them and the determination of an appropriate shareholder ownership model.  The council will “ensure that SOE-specific interventions are implemented to stabilise companies through the strengthening of their governance, addressing their immediate liquidity challenges and implementing agreed turnaround strategies,” the Presidency said

• Read the full original of the report in the above regard by Genevieve Quintal at BusinessLive

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