PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
JohnDough
 
Comments: 12
Article views: 649
 
 
Latest Badges:

 
View all JohnDough's badges.
 

State Owned Enterprises: Transparency and financing.

12 February 2013, 07:03

We are once again being shafted by the Government when it comes to funding and bailing out State Owned Enterprises (SOEs). Eskom’s current application for a 16% per year increase for the next 5 years and the recent bailout of SAA spring to mind.

Is it not time to find a revolutionary business model to achieve honest transparency and market related funding? My suggestion would be something in the line of the following:

1)      Create a separate Board on the Johannesburg Stock Exchange (JSE) just for SOE’s

2)      Set the maximum percentage that the Government may own, directly or indirectly, to 35% of any SOE

3)      Limit any other shareholder to a maximum of 5% of the issued shares

4)      Allow no “Golden share(s)” or veto rights to any shareholder

5)      Split the company board 50/50 between the Government shareholder and the rest of the shareholders

6)      Appoint an independent Chairperson that is mutually agreed to by the board and or shareholders

The JSE is a reputable entity that is well run and attracts investments from all over the world so it is the ideal platform for an initiative like this. Their rules and regulations have been well tested over time and are internationally accepted by investors. The technology of the JSE is on par with some of the best stock exchanges operating today.

What would this achieve? The initial listing of the various SOE’s would be a huge cash injection into the Government’s coffers but more importantly the SOE’s would now be a public owned and traded entity which would then have to abide by the JSE’s regulations. Funding would be attracted at market related pricing. The SOE’s would have to be well run and deliver not only on their mandate but also to their shareholders. The playing field would be levelled and no longer would the Government be able to screw us taxpayers over to fund their useless management of SOE’s. Cadre employment would also be a thing of the past and only capable persons would be appointed to sit on the boards.

So how about a SA Inc board on the JSE?

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.
 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
12 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Scooterza
What do we do about the mob menta...

Over the last few years, my sense is that mob mentality or lowest common denominator thinking has taken root in South Africa and is growing ever stronger.  Read more...

0 comments 143 views
Submitted by
Asanda Sibobi
Generations plight, our fight!

So, like most people, I have finally watched the much talked about “Generations Actors Guild Press Conference”. O Read more...

1 comments 134 views
When Oscar Pistorius goes to pris...

Oscar Pistorius is due for his verdict and sentencing on 11 September 2014. This is after a lengthy trial since March 2014. Read more...

2 comments 363 views
Submitted by
@jem10253
Why things are the way they are?

It is a question that has crossed my mind a lot over the past few days. Why is everything the way it is?  Read more...

9 comments 284 views
Submitted by
Shira Yariv
The ccatterlings of Africa

Stepping off a plane after leaving her upon your return her overwhelming mass ignites your senses and her almost frenetic energy engulfs you, your pulse quickens ever so slightly and you know that she is trying to draw you into her ample bosom.  Read more...

1 comments 120 views
The incurable pain

Many try and shy away from topics like these but please do not think that I am venting issues on social media, I am basically sharing my feelings on this matter. Read more...

1 comments 137 views

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

Save up to 50% on Women’s month treats!

Celebrate the awesome women in your life with awesome treats like beauty products, fashion accessories, bestselling books, electronics and more. Offer valid while stocks last. Shop now!

Up to 60% off - clearance sale!

Save up to 60% on appliances, books, electronics, toys, movies and more. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

Calais Website keywords automated by OpenCalais.

 
Interactive Advertising Bureau
 
© 2014 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.