Cape Town - President Jacob Zuma gave his assurance that he wouldn’t interfere with the work of the inter-ministerial committee on state-owned enterprises (SOEs). His involvement would be merely to assist.
Zuma was responding to a parliamentary question posed by the DA leader Mmusi Maimane about how Zuma intended on interacting with the newly established presidential state-owned companies coordinating council, of which he would be chair.
Maimane wanted to know if Zuma’s new role as chair wouldn’t clash with the functions of the existing inter-ministerial committee on SOEs under the leadership of Deputy President Cyril Ramaphosa.
The reasoning and functioning of the presidential SOE co-ordinating structure have left investors worried, analysts cautioned.
The announcement of the structure was also cited as a concern by Futuregrowth Asset Management when it decided to halt lending money to key SEOs.