Mthuli Ncube Gives Parastatals 6 To 9 Months To Privatise

Finance and Economic Development Minister Mthuli Ncube told delegates at Chatham House in London that he has given under-performing State-owned enterprises (SOEs) and parastatals between six and nine months to conclude privatisation deals.

He also said Government is merging 11 parastatals. Ncube said those that need to be liquidated will be auctioned, with three already targeted for dissolution, while seven will be departmentalised into line ministries. Said Ncube:

We need to move fast, we want to privatise 11 enterprises quickly, I have given some of them six months just to get on with it and six subsidiaries of the Industrial Development Corporation (IDC); also those should be privatised, we are merging 11 (state owned) entities. Between the next six to nine months, I want to see progress and conclusion of some privatisation deals.

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