Mboweni warns of elevating 'state ownership to a religion'

Mboweni, a former central bank governor who took office in October, has repeatedly questioned the logic of holding onto loss-making state companies, raising the ire of the labour union allies of the ruling ANC that oppose privatisation. Plans to restructure state power company Eskom are already being opposed by unions.

The finance minister also said that a new commissioner of the SA Revenue Service will be appointed next week and a new board for the Public Investment Corporation, which manages the pensions of South African state workers, will be constituted within two weeks. Both institutions have been embroiled in scandals.

Fin24 We need more leaders like this. Say it like it is. No time for beating around the bush.

Fin24 Sell it

Fin24 My thoughts are get rid of the State Assets, rather get the Tax on them ...they will become financially viable in the hands of the Private Sector...easy.

Fin24 Selling the country to the highest bidder. Its citizens are sleeping.

Fin24 State assets are actually liabilities .

Fin24 It’s how do you fix a mess?

Fin24 We know TitoMboweni owns Asset Manager TitoBrothers. His intentions are very clear.

Fin24 Yhoo!! The sooner we retire this pro capital minister the better for the black majority.

Fin24 Will he guarantee that not a single job will be lost etc. Just poking the situation with hanging questions like a he's poking meat on a braai stand is silly

Fin24 so in house does he sell his house furniture when he does not have money mara...👀 he is a rare breed of economist this one!!!

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OP-ED: Employee stock ownership plans — a viable option for South Africa?The African National Congress’s 2019 election manifesto released in January refers to the need to broaden ownership of the economy and ‘a focus on extending worker ownership across the sectors of the economy’ as an essential part of transforming the South African economy to serve all the people. We believe that including workers in the democratic ownership of companies via employee stock ownership plans may well be a viable option for South Africa to consider. Starbucks already do it in RSA. If business can embrace it, it will definitely get rid of unions because workers will want to ensure that they get good returns.
Source: dailymaverick - 🏆 3. / 84 Read more »