Gigaba Says State Companies Keep SA Going

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In a speech at the inaugural South Africa-United States business summit in Johannesburg, Public Enterprises Minister Malusi Gigaba said that investments by state-owned companies into South Africa’s economy are keeping the country going.

“The fact is that state-owned companies’ investments are what is keeping the South African economy going at the present moment as private sector investments have shrunk.”

Gigaba said that state-owned companies like Eskom and Transnet had started to launch new plans to develop the South African infrastructure.

“We are doing a lot more than just stimulating demand; we are driving programmes that will put in place the infrastructure, skills and the industrial and technological capacity to drive our future economy.”

The projects would focus on the country’s roads, railways, electricity supply, information and communication technology, and dams; but would require co-ordination between the state-owned companies, government and the private sector.

Gigaba also put forward a request to the US to invest in South Africa. He said, “We would like to work with you to make direct investments into the South African economy and to develop South African companies to become part of your global supply chains.”

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