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If ever there were an occasion to create a state-owned enterprise, Tiger Brands has to be the candidate. Talk is that the Langeberg fruit canning factory near Ceres will be closed since, due to load-shedding and constipation in SA’s ports, it is no longer profitable. Thousands of jobs and farmers’ livelihoods are at stake.
Yes, the government is at fault for the failures at Eskom and the ports, but for once the government can also remedy the situation by having the Public Investment Corporation (PIC) take over this crucial canning facility, which produces Koo and other well-known brands.
This business is inherently viable and if rescued by the PIC (which has said it wants to build up a private portfolio) will again be profitable when functionality is restored to SA’s power supply and transport logistics.
Willem CronjeCape Town
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.