POLITICAL WEEK AHEAD: Jacob Zuma to be grilled on state-owned entities
LESS than a week after an intense debate in Parliament on state capture, President Jacob Zuma will be in the hot seat on Tuesday to answer questions on how the new Presidential State-Owned Companies Co-ordinating Council will interact with the existing Inter-Ministerial Committee on State-Owned Enterprises (SOEs). The creation of the council, which will be headed by Zuma, sparked fears that he would assume more control over parastatals, which some say would compound problems at SAA, Denel and others. It was also seen as a power grab to neutralise Deputy President Cyril Ramaphosa, who chairs the inter-ministerial committee. Shortly after the Presidency announced the creation of the co-ordinating council, asset management company Futuregrowth said it would stop lending money to six of SA’s biggest state-owned companies. Futuregrowth, which has since apologised for not engaging with the SOEs directly before going public, cited threats to the independence of the finance ministry and gov...
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