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Recapitalized SOEs: Mapaila – My Crush Live News

African National Congress (ANC) alliance partner the South African Communist Party (SACP) says it wants state-owned enterprises (SOEs) to be recapitalised, rather than sold to the private sector.

The government wants some troubled state-owned enterprises to be partially sold, as they have become a huge strain on state funds.

SACP secretary general Solly Mapaila says the ANC should propose the recapitalization of Eskom as it serves the citizens. He criticized Eskom for hours-long power outages in the country’s cities.

“When people don’t have electricity, they don’t call the corporations, they call the government. So we have to take full responsibility. Recapitalize Eskom in a way we can discuss with the public. So [that] we are responsible for the actions we have taken ourselves. Because we still believe [that] these issues… will still require commitments after this political conference within the alliance,” adds Mapaila.

Below is an address by the ANC President at the 6th Political Conference:

Eskom’s debt crisis

ANC President Cyril Ramaphosa says the ruling party will spend a lot of time finding solutions and practical solutions to the Eskom debt crisis.

The government has enlisted the private sector in an emergency plan to tackle the worst blackouts in Africa’s most industrialized economy.

The president announced deregulation of self-generated power companies, as well as plans to allow households to generate solar power and sell it back into the grid.

On Monday, Ramaphosa said an influx of additional private energy was needed to save the country’s system.
He admitted that the blackouts caused huge economic damage.

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