Draft Bill on Shareholder Management on Track

Department of Public Enterprises

The public enterprises department will draw up a Draft Bill on Shareholder Management in 2017/18.

The department revealed this during a briefing on its strategic plan and annual performance plan in parliament.

The department also plans to release the government shareholder policy for comment during 2017.

A draft bill to repeal the Overvaal Resorts Limited Act is also in the pipeline. The proposed legislation will allow for the completion of the liquidation of Aventura.

The department will also develop sector specific initiatives to promote road-to-rail migration and draw up a strategy to improve access to funding for state-owned companies (SOC).

The department also pointed out that, given the recent downgrading of the sovereign debt to sub-investment level, an appropriate response plan to strengthen investor confidence on the financial position of SOCs, in particular Eskom and Transnet, would be developed.

Sabinet Cape Town Office