GWEDES SOE PLAN A RECIPE FOR DISASTER: Yesterday, we learnt that - TopicsExpress

GWEDES SOE PLAN A RECIPE FOR DISASTER: Yesterday, we learnt that ANC Secretary General, Gwede Mantashe, intends to set up a mechanism whereby State Owned Enterprises (SOEs) report to him. This means that in addition to reporting to their boards established under the law and of course their shareholder representative, the Minister, SOEs will report to a non-state and non-legal entity who does not have the fiduciary responsibility and capacity to run them and has his hands already full with other tasks and responsibilities. It also offends the principle of the separation of party and state, and elevates Gwede above all Ministers and the (elected) President. It is a recipe for disaster in political and economic terms!

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