ATC230522: Report of the Portfolio Committee on Public Enterprises on Budget Vote 10: Public Enterprises, and on the Strategic Plan and Annual Performance Plan for 2023/24 of the Department of Public Enterprises, Dated 22 May 2023

Public Enterprises

Report of the Portfolio Committee on Public Enterprises on Budget Vote 10: Public Enterprises, and on the Strategic Plan and Annual Performance Plan for 2023/24 of the Department of Public Enterprises, Dated 22 May 2023

The Portfolio Committee on Public Enterprises, having received a briefing from the Department of Public Enterprises on the Strategic Plan, Annual Performance Plan and on the Budget Vote on 10 May 2023, reports as follows:

1. Introduction

Guided by the Rules of Parliament, promulgated in terms of the Constitution, the Portfolio Committee on Public Enterprises plays an oversight role on the Ministry, Department of Public Enterprises and State-Owned Companies.

The Committee has to scrutinise the Strategic Plan and Annual Performance Plan of the Department and its entities in order to see if the funds requested are aligned to the objectives as stated in the respective Strategic Plan and Annual Performance Plan documents.

1.1 Background

The State has a developmental role to play and uses State-Owned Companies (SOCs) as the implementation tools for fulfilling this role. The developmental role should support a number of economic and development goals, including delivery of strategic infrastructure that will unlock growth potential in the country; support of the wider economy and marginal business sectors and support of economic recovery and reconstruction where needed. The State requires strategic, organizational and operational capacity to play its developmental role. State-Owned Companies act as the extension of the state’s capabilities in this regard, and act as the implementing agents for execution of projects assigned in line with national priorities.

2. Annual Performance Plan of the Department of Public Enterprises

The Department of Public Enterprises presented an Annual Performance Plan for 2023/24 financial year to the Committee. The Department described the overarching policy and strategic direction and priorities of Government, as articulated by the 2023 State of the Nation Address by the President, the National Development Plan, and other pronouncements of Government on the repositioning and repurposing of the SOCs.

The Department’s allocation is a product of a budget process of the National Treasury, which starts in July of a prior year and culminates in the Medium Term Budget Policy Statement (MTBPS) in November of the prior year, and the confirmation of allocations in the February Minister of Finance’ Budget Statement (Estimates of National Expenditure), with a three-years view, that are then outlined in the Department’s Annual Performance Plans.

The Department in the Annual Performance Plan includes the priorities set in the Medium-Term Strategic Framework, which are to be implemented by either the Department directly or indirectly through its SOCs.

2.1 Mandate of the Department of Public Enterprises

The Department of Public Enterprises (DPE or the Department) undertakes shareholder oversight for Government and is currently instructed by the Executive Authority to oversee SOCs. Currently, the DPE does not have a legislated constitutional mandate. The DPE is recognised as a Government Department through Proclamation No. 82 of 1999. It has an agreed and assigned dual responsibility to:

The DPE aims to drive investment, productivity and transformation in the Department’s portfolio of SOCs, their customers and suppliers to unlock growth, drive industrialisation, create jobs and develop skills. The Department’s portfolio has six state-owned companies namely; Alexkor, Denel, Eskom, South African Forestry Company (SAFCOL), South African Airways (SAA), and Transnet.

2.1.1 Vision

The vision of the Department is to create an enabling environment in which SOCs add real economic value by focussing on operational excellence, commercial viability and fiscal prudence. This will drive developmental objectives, industrialisation, job creation and skills development.

2.1.2 Mission

The mission of the Department of Public Enterprises is to provide clear strategic direction and oversight to the Department’s SOCs, seeking to ensure that:

they are financially sustainable, adequately funded and operationally robust;
their operating models keep pace with global development and innovation;
they provide reliable, high-quality and cost-effective services and infrastructure to industry and our citizens;
they secure investment and funding for strategic industrial development; and
They align with national developmental objectives.

2.2 A Synopsis of the Economic Outlook

The International Monetary Fund (IMF) suggests that, the aftershocks of the COVID-19 pandemic continue to reverberate through the world economy, evidenced by the world’s stagflationary conditions. The pandemic and the policy responses it engendered, together with disruptions to global oil and food supply chains due to Russia’s war in Ukraine, gave rise to the worst inflation surge witnessed in more than a generation. The imbalances between demand and supply were first seen in goods markets and then spilled over into services before embedding in global and national labour markets, and are yet to fully resolve. Central banks across the world have responded with tighter policy in an effort to stem the spread of inflation.

Global inflation peaked around the middle of 2022. The gradual deceleration since then reflects moderating oil and food prices, supply constraints and commodity prices normalising, as well as the demand cooling effects of fiscal and monetary restraint. Inflation, however, remains well above central bank targets and shows signs of persistence in several sectors. The baseline scenario is for global inflation to continue its gradual moderation, from 8.7% in 2022 to 7.0% in 2023 and 4.9% in 2024.3 Core inflation, which strips out volatile energy and food prices, also remains well above countries’ inflation targets and labour markets remain buoyant, particularly in advanced economies.

The South African Reserve Bank (SARB) points out that, parallel to the global economic trend, gross domestic product (GDP) growth slowed sharply in the domestic economy in 2022, registering 2.0%, down from 4.9% in 2021. While the slowdown in part reflects the return to trend growth following the 2021 rebound from the pandemic-induced recession of 2020, various headwinds and shocks have caused output to swing wildly from quarter to quarter. Much slower growth of about 0.2% is projected for the first and second quarters of this year.

South Africa’s recovery from the COVID-19 pandemic saw production bounce back strongly as the pandemic restrictions were eased, supported by robust export performance amid subdued imports. Economic growth has, however, slowed since the beginning of 2022 as load-shedding intensified. Meanwhile, investment and household spending have remained relatively robust, resulting in domestic expenditure exceeding domestic output, and pulling in more imports. Alongside the weakening terms of trade, rising imports have dragged the current account into deficit.

The labour market has continued to show signs of recovery over the past year. The economy has realised employment gains on a quarter-on-quarter basis since the third quarter of 2021. This resulted in unemployment declining to 32.7% in the fourth quarter of 2022 after peaking at 35.3% a year earlier.

The ongoing failure of certain parts of public infrastructure, especially electricity, will continue to constrain growth over the medium term. Although investment should support growth, it is not expected to increase by much year on year given the difficult operating environment. Household spending is also expected to grow modestly as consumers face pressures from higher inflation and rising interest rates. Some reprieve is, however, expected as inflation moderates over the forecast horizon, amid rising nominal wages. Meanwhile, slower global growth, alongside elevated domestic logistical constraints, suggests that exports will remain weak, while government consumption is expected to remain subdued in line with the announced fiscal consolidation framework.

2.3 Policy Priorities for 2023/24

The President made the following pronouncements in his State of the Nation Address in February 2023. Government priorities for 2023 are the following:

Load-shedding.
Unemployment.
Poverty and the rising cost of living.
Crime and Corruption.

In July last year, President Ramaphosa announced a clear action plan to address the energy crisis. This was to address the electricity shortfall of 4000 to 6000 megawatts (MW).

The plan outlined five key interventions to:

fix Eskom’s coal-fired power station and improve the availability of existing supply;
enable and accelerate private investment in generation capacity;
accelerate procurement of new capacity from renewables, gas and battery storage;
unleash businesses and households to invest in rooftop solar; and
fundamentally transform the electricity sector to achieve long-term energy security.

Government made important progress in implementing the plan.

The Minister of Public Enterprises, Mr. Pravin Gordhan, outlines the following policy priorities in the annual performance plan for the 2023/24 financial year:

Implementation of the recommendations of the Presidential State-Owned Enterprises Council (PSEC), and the development of the SOE Bill, including the establishment of the holding company for strategic SOCs.
The completion of the establishment of the National Transmission Company in line with the Eskom Roadmap.
The conclusion of the Strategic Equity Partnership for SAA.
The finalisation and implementation of the Transnet Roadmap.

3. Programmes of the Department

3.1 Programme 1: Administration and Corporate Management

The purpose of this programme is to provide strategic management and support services to the Department.

The programme includes the Office of the Director-General/Management. The programme is currently made up of the following sub-programmes: Management; Security and Facilities Management; Information Management and Technology; Office of the Chief Financial Officer; Human Resources; Communications; Strategic Management; and Internal Audit.

The Department’s core functions require significant administrative support, and a substantial portion of the budget is in the Administration programme, an amount of R165.4 million for 2023/24 financial year, a decrease of 1.6 per cent from the R166.3 million in the previous financial year, which has cross-cutting sub-programmes providing for intergovernmental and international relations, strategic planning, monitoring and evaluation, and communications. The majority of the budget, R93.9 million, is for compensation of employees, while R67.4 million is for goods and services. The balance of R4.0 million is for machinery and equipment.[1]

The spending focus over the medium term will be on supporting the Department to play its oversight role on SOCs by providing administrative support services to the Department. Over the medium term, the majority of the allocation is within compensation of employees, which will provide technical and administrative support to the Department.

The programme has only one performance indicator, down from six indicators in the previous year. The indicator is:

Number of reports on the interventions to reduce loss of SOEs’ infrastructure through theft and vandalism (one report per quarter).

In the previous financial year, the output indicators for the previous year were as follows:[2]

Percentage of vacancy rate reduced;
Percentage of performance management achieved as per individual performance agreements linked to Annual Performance Plan (APP) and Annual Operating Plan (AOP);
Percentage on improvement of ICT Infrastructure services and 90 per cent of systems availability maintained.
Percentage on population of ICT structure with new capabilities.
Percentage on implementation of signed co-operation agreement to reduce SOCs infrastructure vandalism through signing co-operation with stakeholders.
Percentage on media public perception survey achieved.

3.2 Programme 2: SOCs Governance Assurance and Performance

The purpose of this programme is to provide and enforce SOCs’ governance, legal assurance, financial and non-financial performance monitoring, evaluation and reporting systems, in support of the Shareholder, and to ensure alignment with Government’s priorities.

Over the medium term, the programme will ensure the effective shareholder oversight of state owned companies by:

Providing governance and legal systems;
Developing and maintaining shareholder risk profiles and mitigating strategies; and
Monitoring, evaluating and reporting on the financial and non-financial performance, and proposing intervention measures when required.

The programme has the smallest budget of the three programmes of the Department, amounting to R65.6 million for the 2023/24 financial year, or 21.7 per cent of the total Department’s budget. The programme increases by 8.25 per cent nominally in 2023/24 and increased in real terms by 3.19 per cent. The majority of the budget goes to compensation of employees of R37.0 million, with the balance going to goods and services amounting to R28.6 million.[3]

The Department states that the programme’s focus will be the National State Enterprises Bill (NSEB) (Overarching law to be enacted by Government which will govern all SOEs’ to reduce the current burden of compliance with multiple laws and regulations), as well as the implementation of the Minority Shareholding Oversight Framework and establishment of a Holding Company.

The Sub-programmes include:

3.2.1 Sub-programme: Management

The Management sub-programme comprises the office of the Deputy Director General, which provides strategic leadership and management of the programme personnel.

The sub-programme Legal provides external legal services and oversight support to sector teams. This entails providing legal services, including transaction and contract management support to the Department, as well as work specifically related to sector teams’ oversight of commercial activities of state-owned companies within their portfolios.

The sub-programme Governance develops, monitors and advises on legislative, corporate governance and shareholder management systems for the Department and its portfolio of state-owned companies. Risk and compliance management is a component of this unit, which is responsible for developing and implementing risk and compliance with laws and regulations.

The sub-programme Financial Assessment and Investment Support analyses SOEs’ capital plans, operational performance, the execution of capital programmes and proposed restructuring proposals, and advises on appropriate action.

3.2.2 Sub-programme: Governance, legal assurance, risk profiling and mitigation This sub-programme has 2 performance targets, down from 4 performance targets in the previous financial year. The sub-programme has the following indicators:

Business case for the National State Enterprises Holding Company (NSEHC) in pursuit of a centralised Shareholder model.
Presidential State-Owned Enterprises Council (PSEC) Strategic and Secretariat support provided. (quarterly reports)

The previous year’s output included the following output indicators.

Government Shareholder Management Bill adopted into law by 2023;
Report on activities and recommendations of PSEC;
Number of Governance Tools (Memorandum of Incorporation (MOI)) revised and approved;
Centre of Excellence on Governance established.

3.2.3 Sub-programme: Financial Assessment and Investment Support

This sub-programme has 2 indicators, down from 6 performance targets in the previous year. The sub-programme indicators are:

Percentage on compliance with conditions of the Eskom debt relief package (100 per cent)
SOEs’ engagements on implementation plans in addressing audit recommendations (2 reports)

The outcome indicators for the previous financial year were as follows:

Report on preferred option to resolve Eskom debt;
Guidelines in SOCs seeking SEP and evaluating shareholding i.e. majority and minority shareholding approved;
Number of SOCs’ business plan developed and restructuring unit established;
Number of progress reports on SOCs’ audit findings;
Percentage on SOCs Compliance reporting (I.e. corporate plans, quarterly reports, PFMA section 66 applications);
Number of DPE and SOC CFO’s forum held quarterly.

3.3 Programme 3: Business Enhancement, Transformation and Industrialisation

The purpose of the programme is to provide sector oversight to ensure that state-owned companies contribute to the advancement of industrialisation, transformation, intergovernmental relations and international collaboration services. The programme will also support the shareholder in strategically positioning and enhancing the operations of state-owned companies.[4]

Through this programme, the Department will contribute to the performance SOCs on an ongoing basis by:[5]

Conducting reviews, research and modelling of pipeline and new business enhancement opportunities within SOCs;
Assessing operations of SOCs and developing mitigation instruments in conjunction with policy departments, regulatory bodies and industry; and
Conducting research, modelling job creation and transforming instruments for SOCs to inform compact alignment imperatives.

The budget for the programme amounts to R71.9 billion for the 2023/24 financial year or
23. 7 per cent of the total Departmental Budget. Programme 3’s allocation has decreased by 99.8 per cent nominally from the R34.4 billion allocated in the previous financial year due to no further transfers to the SOCs in the 2023/24 financial year.[6] The programme’s main cost driver is the compensation of employees at R54.4 million, and goods and services making up the balance at R17.6 million.

3.3.1 Sub-programme: Business Enhancement Services

This sub-programme Business Enhancement Services provides SOCs business enhancement services. This includes developing and coordinating the implementation of SOCs’ strategies to leverage localisation programmes; provide intergovernmental coordination and support to programmes and SOCs in relation to economic development programmes, as agreed with provincial and local governments. It will also maintain a register of commitments made by SOCs and lobbies for the implementation of special programmes focusing on skills development, transformation and the youth.

The sub-programme has one indicator, down from the three performance indicators in the previous year. The sub-programme has the following output indicator:

Percentage increase in participation of DPE/SOC in District Development Model (DDM) technical structures and Metros with Special Economic Zones (SEZs). (target of 20 per cent)

The output indicators in the previous APP were as follows.

Number of Gender Responsive Plans approved and implemented;
Percentage on SOC public procurement spent on Women-Owned Business;
SOCs Local content verification framework developed and tested.

3.3.2 Sub-programme: Energy Resources

This sub-programme Energy Resources is responsible for the oversight of three SOCs, namely Eskom, Alexkor and the South African Forestry Company (SAFCOL). The sub-programme has five indicators, down from the nine performance targets in the previous year. The sub-programme has the following indicators:

Percentage on Energy Availability Factor (EAF) increased (increased above 65 per cent).
Three Eskom companies separated and operationalised.
Koeberg Nuclear Power Plant Extension Programme units completed.
Alexkor Repositioning Study conducted.
Revitalisation of State forestry assets.

The previous years’ output indicators were the following:

Signed shareholder compact per year (Eskom; Alexkor; SAFCOL);
Increased energy availability factor;
Eskom planned capacity adherence (Infrastructure/Build Programme)
Increased electricity reserve margin by 15 per cent by 2024;
Eskom’s roadmap for reformed electricity supply industry implemented (unbundling process; Transmission, Generation and Distribution);
Number of reports on the maintenance of energy levels;
Number of progress reports on Additional 1 000MW commissioned by 2024 produced.

3.3.3 Sub-programme: Transport and Defence

This sub-programme Transport and Defence is responsible for the oversight of three SOCs, namely Transnet, South African Airways (SAA), and Denel. The sub-programme has eight output indicators, the same number of indicators as in the previous financial year. The sub-programme has the following indicators:

Implementation of the agreed decision of Government on the Structure and functions of Transnet National Ports Authority (TNPA);
Percentage growth in year-on-year rail volumes;
Rail Infrastructure Manager established as a ring-fenced organisational function;
Rail Access Pricing Formulae Rail Access Procedures 3rd Part Access Contract;
Number of Private Sector Participation (PSP) projects concluded;
DPE Transnet Roadmap finalised;
Number of progress reports on the implementation of Denel’s Restructuring Plan;
Strategic Equity Partner (SEP) on SAA finalised.

The output indicators for the previous financial year, were as follows:

Signed shareholder compacts per year (Transnet).
Implementation of the agreed decision of government on the structure and functions of TNPA.
Percentage increase of rail friendly commodities moved from road to rail by Transnet Freight Rail (6.2 million tons by 2023/24).
Number of private sector participation (PSP) transactions in ports and rail identified.
Framework for the Shareholder Oversight Model for SOCs with a minority Government Shareholding developed. (SAA)
Number of reports on mapping of industrial defence capabilities and options for Denel divisions.
Number of diagnostic reports on the root causes to the challenges of the Denel Badger/Hoefyster contract and lessons learnt;
Number of quarterly reports update on the implementation of the Defence and Aerospace Masterplan.

3.3.4 Sub-programme: Research and Economic Modelling

This sub-programme Research and Economic Modelling conducts cost-benefit analysis reviews on proposed business enhancement and transformation initiatives, and develops economic sustainability models for proposed work packages and projects. The sub-programme has one output indicator for the financial year, down from the two output indicators in the previous year. The sub-programme has the following output indicator:

Komati Agrivoltaic commissioned and training centre operationalised; 150MW PV EIA completed.

In the previous financial year, the sub-programme had the following two output indicators.

Number of reports on the implementation of “Just” energy Transition Framework;
Number of Industry-specific research working papers conducted.

4. Budget

Over the medium term, the Department will continue to focus on enhancing reforms to stabilise these companies and strengthen its oversight capacity to ensure that they are sustainable and contribute to economic development and transformation. Overall, the Department’s budget decreases by 99.12 per cent in nominal terms from R34.4 billion in 2022/23 to R302.9 million in 2023/24.

Table 1 below gives the department’s medium term allocations with the real and nominal increase over the current financial year.

Table 1. Estimate of Expenditure over the 2023 medium term

Programme	Budget				Nominal Rand change			Real % change
R million	2022/23	2023/24	2024/25	2025/26	2022/23-2023/24		2022/23-2023/24
Programme 1: Administration	168,0	165,4	179,6	174,7	-2,6	-10,3	-1,55 per cent	-6,15 per cent
Programme 2: State-Owned Companies Governance Assurance and Performance	60,6	65,6	62,6	70,0	5,0	1,9	8,25 per cent	3,19 per cent
Programme 3: Business Enhancement, Transformation and Industrialisation	34 121,5	71,9	74,1	85,7	- 34 049,6	- 34 053,0	-99,79 per cent	-99,80 per cent
TOTAL	34 350,1	302,9	316,4	330,4	- 34 047,2	- 34 61,3	-99,12 per cent	-99,16 per cent

Source: National Treasury (2023a)

As shown in table 1 above, there are notable changes in the allocations for each of the Department’s programmes including the following:

Programme 1: Administration, accounts for the largest allocation of the Department’s overall budget in 2023/24 with a total allocation of R165.4 million or 54.6 per cent of the total budget. Programme 1: Administration, has a nominal decrease of 1.6 per cent in 2023/24, with a real decrease of 6.2 per cent.
Programme 2: State-Owned Companies Governance Assurance and Performance receive the smallest allocation in 2023/24 will a total allocation of R65.6 million or 21.7 per cent of the total budget. The programme increases by 8.25 per cent nominally in 2023/24 and increased in real terms by 3.19 per cent.
Programme 3: Business Enhancement, Transformation and Industrialisation accounts for the second largest allocation of the budget, R71.9 million or 23.7 per cent of the total budget. Programme 3 allocations has decreased by 99.8 per cent nominally due to the no further transfers to the SOCs in the 2023/24 financial year.

Compensation of employees amounts to R185.3 million for 2023/24, a decrease of 3.7 per cent on R178.7 million in 2022/23, which constitutes the Department’s largest administrative cost driver. Goods and services amounts to R113.5 million, an increase of 0.4 per cent on R113.1 million in 2022/23. Of the goods and services budget, the use of consultants constitutes 33.7 per cent while operating leases accounts for 12.3 per cent and travel and subsistence accounts for 12.1 per cent of the goods and services budget for 2023/24. Travel and subsistence increases from R12.1 million in 2022/23 to R13.7 million in 2023/24; while consultants decreases from R42.2 million in 2022/23 to R38.3 million in 2023/24.[7]

4.1 Programme 1: Administration

The purpose of this programme is to provide strategic leadership, management, and support services to the Department. The Department’s core functions require significant administrative support, and a substantial portion of the budget is in the Administration programme, which has cross-cutting sub-programmes providing for intergovernmental and international relations, strategic planning, monitoring and evaluation, and communications.

Over the medium term, the majority of the allocation is within programme 1 is the compensation of employees, which will provide technical and administrative support to the Department. The overall budget for the programme decreases by 1.6 per cent from

R168.0 million in 2022/23 to R165.4 million in 2023/24. Sub-programmes Communications (22.7 per cent), Human Resources (21.6 per cent) and Ministry (21.1 per cent) constitutes the majority of expenditure in the programme. Expenditure on compensation of employees constitutes 56.8 per cent of the programme budget for the 2023/24 financial year. Over the medium term, expenditure on compensation of employees remains steady at approximately R98,7 million. The number of personnel is expected to increase from 115 employees to 129 employees over the medium term.

Goods and services constitute 40,8 per cent of the budget for the 2023/24 financial year. Goods and services increases from R65.3 million in 2022/23 to R67.4 million in 2023/24, an increase of 3.2 per cent. Operating leases and consultants make up the largest portion of goods and services for the 2023/24 financial year, constituting 20.8 per cent and 16.2 per cent respectively.

4.2 Programme 2: State-Owned Companies Governance Assurance and Performance

The purpose of this programme is to provide and enforce state-owned companies’ governance, legal assurance, financial and non-financial performance monitoring, evaluation and reporting systems, in support of the shareholder to ensure alignment with government priorities.

The objectives of the programme are to ensure effective shareholder oversight of state-owned companies on an ongoing basis by:

• Providing governance systems and legal support;

• Developing and maintaining shareholder risk profiles and mitigating strategies for government’s state-owned companies; and

• Monitoring, evaluating, and reporting on financial and non-financial performance of state-owned companies, and proposing intervention measures when required.

The programme has four sub-programmes namely:

• Management comprises the office of the deputy director general, which provides strategic leadership and management for the programme’s personnel.

• Legal provides external legal services and support, including transaction and contract management support, to sector teams and the commercial activities of the state-owned companies within their portfolio.

• Governance develops, monitors, and advises on legislative, corporate governance, and shareholder management systems for the department and its portfolio of state-owned companies. The sub-programme develops and implements risk and compliance management guidelines and systems for shareholder risk.

• Financial Assessment and Investment Support analyses state-owned companies’ capital planning, operational performance, execution of capital programmes and proposed restructuring proposals, and advises on appropriate action.

The sub-programme Management constitutes the smallest unit of the programme at 4.4 per cent of the budget for the 2023/24 financial year. The largest sub-programme is Governance at 38.4 per cent of the budget followed by the Legal sub-programme at 35.4 per cent and Financial Assessment and Investment Support at 21.8 per cent of the budget. The overall budget for the programme increases by 8.2 per cent from R60.6 million in 2022/23 to R65.6 million in 2023/24.

For the 2023/24 financial year, 56.4 per cent of the programme 2 budget is allocated for spending on compensation of employees, with the number of personnel expected to increase from 25 employees in 2022/23 to 33 employees in the 2023/24 financial year. Compensation of employees increases by 17.1 per cent, from R31.6 million in 2022/23 to R37.0 million in 2023/24.

Goods and services constitutes 43.6 per cent and decreases from R29.0 million in 2022/23 to R28.6 million in 2023/24, a decrease of 1.4 per cent. Consultants constitute 55.6 per cent while Legal services constitute 42.0 per cent of the Goods and services budget. Expenditure on consultants is expected to decrease by 12.2 per cent from R18.1 million in 2022/23 to R15.9 million in 2023/24. Legal services increase by 17.6 per cent, and increases from R10.2 million in 2022/23 to R12.0 million in 2023/24.

4.3 Programme 3: Business Enhancement, Transformation and Industrialisation

• Conducting reviews, research and modelling of pipeline and new business enhancement opportunities within SOCs;

• Assessing operations of SOCs and developing mitigation instruments in conjunction with policy departments, regulatory bodies and industry; and

• Conducting research, modelling job creation and transforming instruments for SOCs to inform compact alignment imperatives.

The programme’s budget decreases by 99.8 per cent from R33.9 billion in 2022/23 to R71.9 million in 2023/24. The decrease is due to the Department no longer making transfers to SOCs during the financial year. This is discussed further under Section 5.

This programme has four sub-programmes, namely;

The sub-programme Energy Resources exercises shareholder oversight over Eskom, Alexkor and the South African Forestry Company (SAFCOL). The budget for Energy Resources is expected to decrease by 99.9 per cent from R21.9 billion in 2022/23 to R19.3 billion in 2023/24. The sub-programme constitutes 26.8 per cent of the programme’s budget. The Department will no longer make any further transfers to Eskom over the medium term.

The sub-programme Research and Economic Modelling conducts cost benefit analysis reviews on business enhancement and transformation initiatives, and develops economic sustainability models for proposed work packages and projects. The budget increases from R5.1 million in 2022/23 to R6.8 million in 2023/24, an increase of 33.3 per cent in nominal terms.

The sub-programme Transport and Defence exercises shareholder oversight over Transnet, South African Airways, and Denel. The budget for the sub-programme constitutes 25.9 per cent of the programme budget for the 2023/24 financial year. The sub-programme budget decreased in nominal terms by 99.8 per cent from R12.0 billion in 2022/23 to R18.6 million in 2023/24. This is mainly due to no further transfers to Transnet, SAA and Denel.

The sub-programme Business Enhancement Services develops and coordinates the implementation of SOCs’ strategies to leverage localisation programmes; provide intergovernmental coordination and support to programmes and SOCs in relation to economic development programmes, as agreed with provincial and local governments; and maintains a register of commitments made by SOCs and lobbies for the implementation of special programmes focusing on skills development, transformation and the youth. The sub-programme’s budget decreases in nominal terms by 10.2 per cent from

R30.3 million in 2022/23 to R27.2 million in 2023/24.

Compensation of employees constitutes 75.7 per cent of the programme’s budget under economic classification. Compensation of employees increases by 12.2 per cent from

R48.5 million in 2022/23 to R54.4 million in 2023/24. Personnel in the programme is projected to increase from 42 employees in 2022/23 to 51 employees in the 2023/24 financial year. Goods and services constitutes 24.5 per cent of the programmes’ budget and is projected to decrease by 6.4 per cent from R18.8 million in 2022/23 to R17.6 million in 2023/24. Consultants decrease by 2.7 per cent from R14.3 million in 2022/23 to R11.6 million in 2023/24. Consultants accounts for 65.9 per cent of the goods and services budget for the 2023/24 financial year.

4.4 Report of Auditor-General on the Annual Performance Plan of the Department of Public Enterprises for 2023/24 financial year

The Auditor General of South Africa presented the findings on the APP on the 3rd of May 2023. By the time of the consideration of the annual performance plan and budget, the Department of Public Enterprises had already considered inputs by the Auditor-General of South Africa.

5. State-Owned Companies’ Performance

State-owned companies are experiencing financial and operational challenges that have affected their performance. The following section deals with their performance and future plans.

The Department has oversight of six entities, namely, Alexkor, Denel, Eskom, South African Forestry Company (SAFCOL), South African Airways (SAA), and Transnet. As these are independent companies, they do not receive funding from the fiscus and should be fully self-sufficient. Therefore, the entities budget does not need to be approved through the national budget appropriation. However, in the situation of Eskom, Denel, SAA and Transnet that are struggling financially, the government as shareholder can make the decision to recapitalise these companies as and when required. When this decision is taken, a special appropriation bill will be required to allocate monies to the entity.

The SOCs were not allocated any funds for the 2023/24 medium term. However, in his budget speech dated 22 February 2023, the Minister of Finance, Mr. Enoch Godongwana stated that, “We are proposing a total debt-relief arrangement for Eskom of R254 billion. This consists of two components. One is R184 billion. This represents Eskom’s full debt settlement requirement in three tranches over the medium term. Second is a direct take-over of up to R70 billion of Eskom’s loan portfolio in 2025/26. Because of the structure of the debt relief, Eskom will not need further borrowing during the relief period.”

It states in the Eskom Debt Relief Bill, tabled with the Appropriation Bill, that the amounts for the requirements of Eskom are direct charges against the National Revenue Fund and attributed to the vote of the National Treasury:

(a) R78 billion for the 2023/24 financial year;

(b) R66 billion for the 2024/25 financial year; and

The above amounts will be advanced as a loan to Eskom, with the Minister determining conditions for the conversion of a portion or portions of the amount of the loan into ordinary shares issued by Eskom to the State.

With regards to the debt takeover, the Bill states for the 2025/26 financial year, R70 billion of the debt of Eskom is a direct charge against the National Revenue Fund through a debt takeover arrangement as determined by the Minister.

In his speech, the Finance Minister stated that the debt arrangement was accompanied by strict conditions to safeguard public funds. These conditions included:

• Requiring Eskom to prioritise capital expenditure in transmission and distribution

during the debt-relief period.

• For the company to focus on maintenance of the existing generation fleet to improve

availability of electricity.

• That the debt relief be used to settle debt and interest payments only.

• Eskom implement the recommendations emanating from an independent assessment

of its operations, which has been commissioned by the National Treasury.

With regards to municipal debt, the Minister had the following to say, “At the end of December 2022 municipalities owed Eskom R56.3 billion and the debt is rising. Undertaking a debt-relief of this magnitude without addressing this risk would be counterproductive. We are working with Eskom to provide a solution to this problem, wherein Eskom will provide incentivised relief to municipalities whose debt is unaffordable. However, the relief will come with conditions. And to avoid a repeat of debt build-up over time, the relief will attach measures including the installation of prepaid meters, to correct the underlying behaviour of non-payment and operational practices in these municipalities.” The Minister stated that the National Treasury will publish details for accessing the debt relief in a circular in March 2023, with implementation starting the 01 April 2023.

The Finance Minister also stated that the National Treasury will work with the Presidency on concrete proposals to achieve savings by rationalising or closing public entities. Recommendations will be made to the President and Cabinet and should form part of the next budget.

5.1 Alexkor

Alexkor was established in terms of the Alexkor Limited Act (1992) to mine marine and land diamonds in Alexander Bay, Northern Cape. The outcome of the land and restitution award to the Richtersveld Community resulted in the formation of the Alexkor Richtersveld Mining Company Pooling and Sharing Joint Venture,
wherein Alexkor holds a 51 per cent share interest on behalf of government, and the Richtersveld Community holds 49 per cent. Alexkor does not have any other mining operations outside the joint venture.

Over the medium term, the company will focus on implementing the turnaround strategy for its diamond mining operations, which have significantly declined in the past 3 years. Symptomatic of this was production averaging below 30 000 carats over the period and the company not being able to reach the benchmark of more than 45 000 carats that had been achieved previously. Some challenges to underproduction include a lack of funds to undertake exploration activities and maintenance of old infrastructure. An immediate intervention is to seek mining contractors with the financial and technical capabilities to undertake large‐scale mining operations.

In the long term, Alexkor’s role should be determined in accordance with the challenges it faces. To achieve this, the Department of Public Enterprises is conducting a study, which is expected to be completed in 2023/24, to determine the optimal shareholding structure for Alexkor. This study will take into account the current market characteristics of the diamond mining industry in relation to government’s developmental agenda. The company was not able to submit detailed performance, expenditure, revenue and personnel data.

5.2 Denel

Denel was incorporated as a private company in 1992 in terms of the Companies Act (1973), with the South African government as its sole shareholder. It operates in the military aerospace and landward defence environment and provides strategic defence equipment.

The company’s broad focus over the medium term will be on implementing its turnaround plan, which entails rolling out its new operating model, restructuring and optimising its cost structure. The new operating model reduces Denel’s structure from 6 core business units to 3 – engineering, manufacturing, and maintenance and overhaul. This change will not only result in decreased expenditure, but in the improved allocation of critical resources. It will also require that the company accelerate its disposal of non‐core assets and businesses, improve supply chain policies and align its IT infrastructure with its new organisational structure.

The company’s revenue decreased from R2.8 billion in 2020/21 to R1.5 billion in 2021/22 due to persistent liquidity challenges. This was exacerbated by fixed costs and under‐recoveries across the group, resulting in the company having lost experienced personnel with critical skills over the years, which threatens its sustainability. There has been lack of productivity at Denel due to constraints provided by its operational context.

To fund the turnaround plan’s response to these challenges, the company expects to access funds through proceeds from the sale of non‐core disposals and shareholder recapitalisation. To improve the company’s 2021/22 and 2022/23 balance sheets, government allocated R3.2 billion over that period to settle guaranteed debt. To augment this, government allocated an additional R3.4 billion in 2022/23 through the Special Appropriation Act (2022). The cash injection will be used to implement the turnaround plan, settle legacy obligations and address the company’s liquidity requirements to support operations and execute its order pipeline. The company was not able to submit detailed performance, expenditure, revenue and personnel data.

5.3 Eskom

Eskom is mandated to generate, transmit and distribute electricity to industrial, mining, commercial, agricultural and residential customers and redistributors. Significant progress has been made on the company’s legal separation into 3 subsidiaries: transmission, generation and distribution. In this regard, the National Transmission Company of South Africa was corporatised in December 2021, and will be operationalised once the National Energy Regulator of South Africa issues its licence. The National Electricity Distribution Company of South Africa is expected to be corporatised during 2023/24.
The company’s new board was appointed in October 2022 and has been tasked with ensuring a performance turnaround for operations. This is expected to result in improving energy availability from 58 per cent as at 30 September 2022 to 66.5 per cent by 2025/26. The current low availability of energy is due to high unplanned breakdowns and unit trips, which account for 30.8 per cent of the company’s non‐availability of generation capacity.

To improve operational performance, the board is working with the national energy crisis committee, which was established by the president in July 2022. The committee’s purpose is to oversee the implementation of an action plan to end load shedding and achieve energy security in the country. As part of the company’s build programme, the Kusile power station is expected to be completed in May 2024. Interventions and modifications to repair construction defects at the Medupi and Kusile power stations are expected to be completed by the end of 2023. This includes the recent failure of the flue‐gas ducting that has impacted units 1 to 3 of the Kusile power station.

To support the transition from coal to renewable energy, in line with government’s energy policy, Komati power station was shut down on 31 October 2022 and is being repurposed with renewable energy technologies that will supply clean electricity to the economy and the public. Based on the company’s 2022/2023 to 2026/27 financial plan, expenditure is projected to increase at an average annual rate of 5.4 per cent, from R299.6 billion in 2022/23 to R351.1 billion in 2025/26. Generation is Eskom’s main cost driver, constituting 59.7 per cent (R570.6 billion) of its total budget over the medium term. Spending on goods and services across divisions constitutes 61.5 per cent (R604.1 billion) of the company’s budget. Revenue is expected to increase at an annual average rate of 8.9 per cent, from R279.5 billion in 2022/23 to R361.3 billion in 2025/26. Revenue is mainly derived from the sale of electricity, which increased by 2.1 per cent, from R204.5 billion in 2020/21 to R247 billion in 2021/22, due to a regulatory tariff increase of 15.1 per cent imposed on customers supplied directly by Eskom. Revenue in 2022/23 is projected to increase to R279.5 billion, driven by a 9.61 per cent tariff increase. The company’s net loss is projected to increase to R20billion in 2022/23, worsening from the R12.3 billion reported in 2021/22. Net debt decreased by R11.7 billion to R389.1 billion in 2021/22, while municipal arrears amounted to R44.89 billion in 2021/22 and are expected to increase to R57.7 billion in 2022/23. As such, Eskom’s financial position remains weak and the company is not able to generate enough cash from operations to cover debt obligations. Given this weak financial position, government has committed an additional R21.9 billion in 2022/23 to assist with the company’s debt‐service obligations.

5.4 South African Airways

South African Airways operates a full‐service network in the international, regional and domestic markets. The airline is responsible for promoting air links with South Africa’s key business, trading and tourism markets across the world, and contributing to key domestic air linkages. The company was placed under business rescue in December 2019 and exited the process in April 2021. It resumed operations in September 2021, operating domestically and regionally, and has since been operating 6 aircraft. Over the MTEF period, the airline plans to increase its operations and improve its service offering, for example, by expanding its route network.

Government is in the process of concluding the sale of its majority shareholding in the company to a strategic equity partner. This is expected to attract the funding and skills required to strengthen the airline’s balance sheet and improve its operations. The partnership was expected to be finalised by the end of 2022/23, but due to outstanding matters such as regulatory approvals from the Competition Commission and the Air Services Licensing Councils, it is expected to be concluded in 2023/24.

Expenditure is expected to increase at an average annual rate of 50.8 per cent, from R4.6 billion in 2022/23 to R15.9 billion in 2025/26. This significant increase is attributed to an increase in operations with the lifting of COVID‐19 restrictions. Spending on goods and services constitutes 87.2 per cent (R32 billion) of total expenditure, mainly driven by fuel, leases and maintenance costs. Revenue is expected to increase at an annual average rate of 62.8 per cent, from R3.9 billion in 2022/23 to R16.6 billion in 2025/26. It is mainly derived from the sale of air tickets, which constitutes 99.7 per cent of total revenue. This significant increase is attributed to the airline’s anticipated increase in operations.

5.5 South African Forestry Company

The South African Forestry Company was established in 1992 in terms of the Management of State Forests Act (1992). It is mandated to ensure the sustainable management of plantation forests, increase downstream timber processing, and play a catalytic role in rural economic development and transformation. The company contributes to approximately 1 772 direct jobs and more than 1 000 employment positions in small to medium companies through community projects and other services.

Over the medium term, the company plans to improve its performance by implementing its 50:50 revenue strategy, which entails plantation, processing and other businesses contributing equally. The company will also focus on increasing its processing capacity through upgrading the Timbadola processing plant in Limpopo. This will reduce operating costs at the plant, particularly for repairs and maintenance. Expenditure is expected to increase at an average annual rate of 8.4 per cent, from R1.4 billion in 2022/23 to R1.8 billion in 2025/26. The operations of Komatiland Forests, the company’s main revenue‐generating division, constitutes 80.7 per cent of total expenditure over the MTEF period. Overall, spending on goods and services constitutes 72.6 per cent (R3.7 billion) of the company’s budget, while compensation of employees accounts for 22.8 per cent (R1.3 billion) over the next 3 years. The company derives most of its revenue from the sale of saw logs and lumber. Revenue is expected to increase at an average annual rate of 10.1 per cent, from R1.5 billion in 2022/23 to R2 billion in 2025/26, due to an anticipated higher demand for the company’s products over the medium term.

In 2021/22, the company reported R1.2 billion in revenue, a 33 per cent increase from the R920.8 million realised in 2020/21. The increase was due to a favourable log and lumber market. Following years of losses, the company reported a profit of R83.6 million and declared a R1 million dividend at its 2022 annual general meeting. The company’s fixed costs remain high, something it plans to monitor over the period ahead to remain profitable. Liquidity and solvency positions remain strong and the company is not highly indebted. As such, it is
in a position to raise funds on the strength of its balance sheet without government support.

5.6 Transnet

Transnet provides and operates freight transportation services and infrastructure. The company’s key strategic objectives include improving logistics competitiveness, promoting a modal shift from road to rail, increasing logistics connectivity, attracting private investment, developing skills and promoting reindustrialisation. To sustain and expand its capacity, over the 5‐year period ending in 2026/27, Transnet planned to invest R99 billion, 44.5 per cent (R44 billion) of which was earmarked to be invested in the rail sector, another 44.5 per cent (R44 billion) at ports and 6 per cent (R6 billion) on pipeline infrastructure. However, these investments were hindered due to the company having to reduce capital expenditure in 2022/23 by 9.2 per cent, from R18 billion to R16.4 billion, because of liquidity constraints associated with limited profitability. Significant turnaround in operations, and as such the company’s financial position, in the short term have been impacted by events such as severe damages at the port of Durban and along the KwaZulu‐Natal rail corridor due to flooding in the province in April 2022. To assist the company with repairs, government allocated R2.9 billion in 2022/23 through the Special Appropriation Act (2022). To assist with clearing the backlog in its infrastructure build, maintenance and modernisation programme, Transnet is actively seeking private sector participation in its operations. Investment from the private sector is also expected to contribute to the migration from road to rail, with the aim of reducing the total national cost of logistics. The Department of Public Enterprises is working with Transnet to develop a turnaround plan that will address various operational and infrastructure funding challenges. Expenditure is expected to increase at an average annual rate of 2.5 per cent, from R81.3 billion in 2022/23 to R87.6 billion in 2025/26. Over the period ahead, Transnet Freight Rail operations constitute 59 per cent (R152.7 billion) of total expenditure. Overall, spending on compensation of employees constitutes 34.4 per cent (R86.5 billion), while goods and services constitutes 29.3 per cent (R75.9 billion) and provision for depreciation
accounts for 18.5 per cent (R46.7 billion).

Transnet derives most of its revenue from freight, port and pipeline operations, amounting to 97.6 per cent (R261.7 billion) of total revenue. Revenue is expected to increase at an annual average rate of 4.2 per cent, from R83.9 billion in 2022/23 to R95.1 billion in 2025/26. The relatively low revenue growth was offset by cost savings
and significant fair value adjustments. The latter was linked to the reversal of previous downward valuations during the COVID‐19 pandemic. As a result, the entity reported a net profit of R5 billion in 2021/22 compared to a loss of R8.4 billion in 2020/21

6. Committee Observations

6.1 The Committee made the following observations:

6.1.1 The Committee welcomed the strategic plan and annual performance plan of the department, but noted with concern the constrained budget of the department to effectively exercise oversight over state-owned companies.

6.1.2 The Committee noted with concern that the Shareholder Management Bill featured as a deliverable in 2022/23 financial year, and never materialized. The Committee raised concern that the shareholder management bill has not been included as a target for the 2023/24 financial year, and the absence of such an overarching legislation continues to weaken the ability of the state to direct SOCs in advancing the developmental objectives of government.

6.1.3 The Committee expressed concern that during 2022/23 financial year, the department surrendered R3.8 million to the National Treasury due to vacant posts.

6.1.4 The Committee noted that programme 1 on administration was allocated the largest operational budget whilst most of the oversight of the SOCs are conducted in Programmes 2 and 3 which are allocated a lesser budget. The operational budget for programme 3 amounts to R71.9 million, programme 2 amounts to R65.6 million while programme 1 amounts to R165.4 million.

6.1.5 The Committee expressed concern regarding the ageing infrastructure and the lack of investment in capital equipment and machinery in most state-owned companies, and the over-reliance on private sector investment which has affected the productivity of the companies.

6.1.6 The Committee expressed concern over lack of transformation and lack of effort in ensuring that there is improved percentage of local content in goods and services purchased by SOCs.

6.1.7 The Committee expressed concern regarding the establishment of the National State Enterprises Holding Company (NSEHC) without having developed and passed the Government Shareholder Management Bill. The Committee felt that the legislation is critical to guide the policy and governance of such a holding company.

6.1.8 The Committee welcomed the recapitalization of Denel and will continue to closely monitor the implementation of the turnaround strategy.

6.1.9 The Committee has welcomed the call to restructure SOCs by the Department which will focus on Eskom, Transnet, Denel and SAA. However, the Committee believes these state-owned companies should continue being under state-ownership and the state should continue playing a leading role in investment for inclusive growth.

6.1.10 The Committee noted that energy security remains critical for socio-economic growth and will further monitor the restructuring of Eskom into three subsidiaries, namely Generation, Transmission and Distribution, as planned.

6.1.11 The Committee noted the sale of 51% of SAA shares to Takatso Consortium, and will closely monitor the conclusion of the transaction, including ensuring that due diligence is performed by the Department including adherence with all legislative prescripts.

6.1.12 The Committee noted with concern that the recoveries of monies, assets and intellectual properties from SOCs during the state capture process has been slow, particularly the properties of Denel.

6.1.13 The Committee welcomed efforts of the Department of Public Enterprises to start the SOE Integrity Risk Unit which will review forensic reports and follow up on with the Special Investigating Unit (SIU) in pursuing those implicated in corruption and looting the SOCs.

6.1.14 The Committee noted with concern the findings of the Auditor-General regarding the annual performance plan of the Department of Public Enterprises. These included amongst others; some targets are ambiguous and not measurable, some activities are not mentioned in the annual performance plan but only appear in the annual operational plan, some targets set do not achieve the intended outcomes and have no relevance to the oversight role of the department.

7. Recommendations

The Committee recommended that the Minister of Public Enterprises should, within the 2023/24 financial year, ensure that the Department of Public Enterprises:

7.1 report to the Committee on the establishment and operationalisation of the Presidential SOE Coordinating Council, including the work the council will be doing in the implementation of the recommendations of the 2012 report by the Presidential Review Commission on SOEs. Some of the recommendations were that Government should develop: shareholder management bill, the shareholder model, SOE remuneration standards, etc, to empower the Government in its oversight of SOCs. The Department should report on the progress of the Shareholder Management Bill per quarter.

7.2 consider introducing a comprehensive plan to expand the corporate social investment of SOCs to rural parts of the country.

7.3 consider working with the Department of Trade and Industry and National Treasury in addressing localization strategies. These should include resetting of trade and investment cooperation to stimulate and support small businesses and employment initiatives, reduce barriers to trade in services (which are often labor-intensive) and investments in industrial value chains.

7.4 prioritise the development of programmes with SOC aimed at equipping young people with appropriate skills for the economy to address youth unemployment.

7.5 provide the Committee with shareholder compacts on an annual basis and quarterly reports on how the companies are performing in achieving targets.

7.6 ensure that SOCs accelerate investment and procurement programmes, promote industrialization and support small and medium enterprises that are owned by women, youth and people with disabilities.

7.7 ensure that SOCs find a balance between advancing their commercial and public mandates. They should not over-concentrate on the commercial mandate while neglecting the developmental mandate of transforming the economy and improving the quality of lives of South Africans. The SOCs should have credible empowerment and demographic targets.

7.8 ensure that the allegations made by the Former Group Chief Executive Officer of Eskom are reported to law enforcement agencies and investigated. Furthermore, ensure that a qualified, competent and patriotic individual is appointed as the Group Chief Executive Officer of Eskom.

7.9 collaborate with the Department of Rural Development and Land Reform, in addressing long outstanding issues relating to Safcol land claims and that regular progress reports (twice a year) to the Committee.

7.10 ensure that there is a comprehensive plan on improving Energy Available Factor (EAF) from 56% to 65% by the end of the financial year 2023/24 and 70% by 31 March 2025.

7.11 provide an update on Roadmap for Eskom in a reformed electricity supply, in particular, the development and operationalization of the National Transmission Company of South Africa (NTCSA).

7.12 provide a comprehensive plan on Eskom’s Just Energy Transition (JET), which focuses on transitioning the business to a zero carbon emissions efforts over a 30-year time horizon period, between 2020 to 2050, with an increase in sustainable jobs. A stakeholder management plan to be presented with regards to re-powering and repurposing of older power stations in Mpumalanga.

7.13 present to the Committee within this financial year a Roadmap for Transnet to provide clarity on the steps to be taken to address current freight challenges and outline a path for reform.

7.14 present to the Committee progress made on dealing with sabotage, theft and vandalism on infrastructure.

7.15 work with the Departments of Cooperative Governance and Traditional Affairs, and of Rural Development and Land Reform to ensure that the Richtersveld Mining Company and Communal Property Association are properly constituted to facilitate the successful implementation of the deed of settlement, and delivery of socio-economic development programmes to the beneficiaries.

7.16 address the financial and governance issues facing the state-owned companies within the Department’s portfolio and provide regular feedback to the Committee.

7.17 work with the Department of Cooperative Governance and Traditional Affairs and other relevant parties to resolve the municipal debt owed to Eskom and provide feedback to the Committee on this process quarterly.

7.18 ensure that all vacant positions are permanently filled within the Department of Public Enterprises by the end of the financial year, and ensure that no money will be surrendered to National Treasury due to vacancies, especially in the wake of high unemployment rate in the country.

7.19 work closely with National Treasury to ensure that the procurement processes within SOCs are fluid enough to enable the SOCs to respond swiftly to market demand.

7.20 address the findings of the Auditor-General of South Africa in relation to the defects in the annual performance plan of the Department of Public Enterprises.

7.21 report every quarter to the Committee on progress being made in regard to the above recommendations.

8. Conclusion

Having considered the Budget Vote and the Strategic Plan and the Annual Performance Plan of the Department of Public Enterprises, the Committee recommends that the House passes the budget.

Report to be considered.

[1] National Treasury (2023)

[2] Department of Public Enterprises (2022)

[3] National Treasury (2022)

[4] Department of Public Enterprises (2023)

[5] Ibid

[6] National Treasury (2023)

[7] National Treasury (2023a)

Documents

ATC230522: Report of the Portfolio Committee on Public Enterprises on Budget Vote 10: Public Enterprises, and on the Strategic Plan and Annual Performance Plan for 2023/24

ATC230522: Report of the Portfolio Committee on Public Enterprises on Budget Vote 10: Public Enterprises, and on the Strategic Plan and Annual Performance Plan for 2023/24 of the Department of Public Enterprises, Dated 22 May 2023

Public Enterprises

4.2 Programme 2: State-Owned Companies Governance Assurance and Performance

Documents

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