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State Owned Enterprises

SOEs must help with transformation

Thu, 18 Aug 2011 10:19

Malusi Gigaba

State owned enterprises (SOEs) should assist in achieving transformation measures that will help black accountants, says Public Enterprises Minister Malusi Gigaba.

“State owned companies are crucial enablers for economic activity. They must enable government to achieve its socio-economic goals."

“The responsibility of a state owned company like Transnet is not only to provide rail and ports infrastructure and ensure that they perform efficiently, but also to ensure that they increase the participation of black people in the mainstream economy. Transformation of the economy is very important,” he said.

Gigaba was speaking at a meeting with black accountants about problems they faced in their field on Monday.

Some of the issues highlighted by the accountants were that the industry was still discriminatory and restrictive. The accountants also said they experienced lack of work, particularly from government.

“I’m of the view that something must be done for black firms in the country,” said the minister, adding that he will discuss the concerns made by the accountants with the chairpersons and chief executive officers of all state entities.

Gigaba said the department will ensure that transformation at such entities will become a key performance indicator for the boards of state entities. These boards will be held responsible for missing targets.

One of the accountants, Nonkululeko Gobodo, a partner at black accounting and auditing firm, SizweNtsaluba & Gobodo, said black firms were important in developing black accountants, and the lack of employment opportunities from government and SOE denied them the opportunity to train more accountants. - BuaNews