Ramaphosa to chair inaugural meeting of the PSEC

Business News

President Cyril Ramaphosa  will chair the virtual inaugural meeting of the Presidential State-Owned Enterprises Council (PSEC) today.

In June 2020, the President appointed members of the PSEC to support government in repositioning state-owned enterprises as effective instruments of economic transformation and development.

Acting Spokesperson to the President Tyrone Seale said the inaugural meeting will discuss South Africa’s Economic Reconstruction and Recovery Plan aimed at restoring the country’s economy, as well as an overview of state-owned enterprises and the Terms of Reference of the Council.

The PSEC brings together Ministers responsible for state-owned enterprises and eminent South Africans with proven leadership and strategic capabilities.

The Council will also work with the leadership of SOEs to develop a legal and regulatory environment that promotes innovation and agility and enhances their competitiveness.

Furthermore ,the Council will review business models, capital structure and sources of financing for SOEs and monitor and mitigate risks.

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