According to Nolu Hlophoyi, spokesperson for DearSA, the Bill aims to streamline governance, reduce political interference, and improve operational efficiency, but it also raises serious concerns. "While the intention to reform SOEs is welcome, the centralisation of power in SAMSOC, with limited oversight, poses risks to accountability and transparency," says Hlophoyi.
Under the proposed framework, SAMSOC and its subsidiaries would be exempt from key provisions of the Public Finance Management Act, potentially weakening financial transparency. Additionally, the public’s role in shaping a national strategy for SOEs appears minimal, leaving decisions largely in the hands of the President. "We cannot afford to lose sight of the need for checks and balances, especially when it comes to assets that affect every South African household," Hlophoyi adds.
The Bill’s potential impact extends beyond governance, affecting jobs, operations, and the communities that rely on SOEs. "This is not just a legislative issue; it’s a matter of livelihoods and essential services. We need every voice to be heard to ensure a fair and balanced outcome," Hlophoyi concluded.
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Date: 19 Dec 2024
