Question NW497 to the Minister of Finance
02 July 2020 - NW497
Waters, Mr M to ask the Minister of Finance
(1)What (a) is the name of each state-owned entity that paid dividends to the State in the past 10 financial years and (b) amount was paid in each financial year; (2) (a) what amount has been paid and/or granted to any specified state-owned entity over the past 10 financial years in respect of (i) bail outs and (ii) Government guarantees, (b) in which financial years were the payments made and (c) what is the name of each entity that received a bail out or guarantee?
Reply:
1. State-owned entities reporting to the Minister of Finance, namely, Public Investment Corporation (PIC) and South African Special Risk Insurance Association (SASRIA), paid dividends to the state in the last 10 years:
2. Over the past 12 years, government has allocated about R162 billion to the financially distressed state-owned companies (SOCs). These allocations generally provide short-term support to the relevant distressed SOC as a result of various reasons. Of the total allocations, Eskom accounts for 82 per cent. In 2019/20, government allocated R49 billion to Eskom and committed R112 billion in the medium-term funding. For more details on the bail outs and government guarantees extended to each respective SOC, please refer to the attached annexure A and B.