Johannesburg - The Airports Company of South Africa (Acsa) can improve by attracting women to the airports company, said Minister of Transport Dipuo Peters.
Peters was speaking at the State-owned Enterprise’s (SOE) financial results announcement for the year ended 31 March 2016, in Parktown on Friday. Peters commended the organisation for improving its financial results but highlighted that it was far off from achieving transformation goals.
READ: Acsa posts R1.9bn profit
“Fifty-fifty is non-negotiable. The women of South Africa are ready, able and competent to participate and lead in the airports sector,” she said.
“Acsa’s accountability is not confined to the department [of transport] or the broader state. It should extend to every citizen and contributor to the South African economy.”
Peters made note of the fact that Acsa had addressed its energy challenges by building three solar power plants at its airports in George, Kimberley and Upington.
“Private sector companies can take a leaf from Acsa’s book to address energy challenges.”
The SOE has developed a long term strategy called Vision 2025. One of the goals is to achieve a Broad-Based Black Economic Empowerment (B-BBEE) level one status, the SOE is currently at level 2.
CEO Bonagni Maseko said it was a priority to remain a demographically representative company.
Currently there are no focus programmes for women.
“It is something we need to pay attention to,” he said.
However Acsa has programmes to “expose” young people to the aviation sector.
Among the other goals of the 2025 strategy is to get all of Acsa’s airports into the top 15 of their size and category. It seeks to create 50 000 job opportunities and yield 10% return on equity, among other targets.Pictured from left: Chief financial officer Maureen Manyama, CEO Bongani Maseko, Minister of Transport Dipuo Peters and chairman Skhumbuzo Macozoma, at a question and answer session with the press following Acsa's financial results announcement. (Photo: Lameez Omarjee)
Tariff decision pending
Over the past year there was a 0% increase on tariffs. The SOE is waiting for a final decision from the economic regulation committee, explained Maseko. “The regulatory committee will provide certainty for airline stakeholders and investors. We hope to wrap up the process as soon as possible,” he said.
The reason the process, which has been delayed by 18 months, has taken so long is that the term of the regulatory committee which raised issues during the consultation process had expired and the organisation had to address these issues with a new committee.
“In the interest of industry and investors, we are hoping for a favorable outcome,” he said.
Economic regulation is a key driver of business and “curbs monopolistic tendencies”, said Maseko. The economic regulator determines the tariff which encompasses the amount charged to passengers, landing and parking, he explained.
“We do not simply decide to put up a runway or extend a terminal. We must consult and represent a five-year plan to the regulator to determine the tariff charged for infrastructure to be built,” he said.Read Fin24's top stories trending on Twitter: Fin24’s top stories