'Be careful not to elevate state ownership to a religion', warns Tito Mboweni

Mboweni said that the country should look toward merging its state-owned airlines to remove the need for duplicate boards and chief executives officers and could sell the explosives unit of state arms company Denel to AECI, a privately owned explosives company.

The finance minister also said that a new commissioner of the South African Revenue Service will be appointed next week and a new board for the Public Investment Corp., which manages the pensions of South African state workers, will be constituted within two weeks. Both institutions have been embroiled in scandals.

Once the current set of challenges facing the National Treasury have been resolved, Mboweni said he would like to return to the private sector. Mboweni has served as chairman of AngloGold Ashanti and as an adviser to Goldman Sachs Group. “I am on public record saying it is time for old people to retire and it is time for young people to run the country,” said Mboweni, who is 60 years old.

Mboweni also called for stronger action against those who committed corrupt acts during the tenure of former president Jacob Zuma, saying that what happened at the national revenue service was “treasonous.”

tito_mboweni SA has more than 200 Public entities under the different schedules of the PFMA & MFMA, most of them are not profitable & solvent. Is high time we get rid of some of these non core assets that take a lot out of the fiscus without adding any real value to the economy.

State owns like 700+ entities 🤦🏾‍♂️ Sowellnomics

'Extensive list', much as the much talked about controversial candidate lists🙏🙏

Let the auction begin, or should they be fluffed up first?

Sell them all Minister, everything must go! 😉

Good move minister.After 25 years of poor governing, the best option is to start playing a bad hand well.The down side of this move could also possibly affect the poor negatively should the private sector be granted full autonomy in running identified state assets.

Sold a hospital pass yet only one with any backbone. But will he survive there!

These two Cdes are a law unto themselves in the ANC, now we have other centres of power beside the ANC, MYANC must act decisively to deal with these two, on whose mandate are they doing what they are doing, privatization of states assets should be opposed

Totaymissing tve point.SOEs are arms of the State to ensure that it delivers on its Constitutional Mandate.Who does PG report to? On whose Mandate is Tito callitfor privatization of SOEs?

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'Be careful not to elevate state ownership to a religion', warns Tito MboweniFinance Minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances. But why can't the state operate these state companies successfully when they have the advantage of not having to generate any profits? How come? Can’t wait for 8 th of May WHY SHUD WE TAKE YOU CRUSLY FIRST?
Source: TimesLIVE - 🏆 28. / 59 Read more »

Tito Mboweni: Don’t make state ownership a religionIn an interview on Power FM the finance minister again questioned the logic of hanging on to loss-making state companies I love Tito”s frankness, it won’t earn him a lot of friends in the tripartite that promotes corruption and state capture, but speak Minister you’ve supplied the aloe medicine 👏🏽👏🏽 so lets see..TitoMboweni wants to sell off the good stuff that makes a profit (cos its easy to sell and there are buyers)and then most likely pour all the money into the lossmakers that means in the end the taxpayer has all the loss makers(still) and all the good stuff is gone
Source: BDliveSA - 🏆 12. / 63 Read more »

Tito Mboweni blasted on social media for claiming SA is too 'Africanist''You go get to the airport through immigration, most of the immigration officials would be Africans, yet they should really be representing the demographics of the country, which is black and white, male and female.' Tito is right. We cry when companies are all white 🤣🤣🤣🤣🤣🤣🤣 Why is that same emphasis made on senior management of private sector companies as well? We can't have 50/50 numbers because Indians ,colourds and white are the minority, but I do think that we should ensure that every sector represents our diversity.
Source: TimesLIVE - 🏆 28. / 59 Read more »

NCOP committee adopts PIC Amendment Bill in snub to Tito MboweniStronger corporate governance and transparency is envisaged and provision is made for trade union representation on its board They want to be able to claim credit for having taken some action before the election. Tito’s “niceties” are probably above their ability to grasp the significance of their omissions. Now it’s evident,they seriously don’t take Him serious
Source: BDliveSA - 🏆 12. / 63 Read more »

'Be careful not to elevate state ownership to a religion', warns Tito MboweniFinance Minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances. But why can't the state operate these state companies successfully when they have the advantage of not having to generate any profits? How come? Can’t wait for 8 th of May WHY SHUD WE TAKE YOU CRUSLY FIRST?
Source: TimesLIVE - 🏆 28. / 59 Read more »

Mboweni warns of elevating 'state ownership to a religion'The finance minister says a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances. Fin24 so in house does he sell his house furniture when he does not have money mara...👀 he is a rare breed of economist this one!!! Fin24 Will he guarantee that not a single job will be lost etc. Just poking the situation with hanging questions like a he's poking meat on a braai stand is silly Fin24 Yhoo!! The sooner we retire this pro capital minister the better for the black majority.
Source: News24 - 🏆 4. / 80 Read more »

Tito Mboweni: Don’t make state ownership a religionIn an interview on Power FM the finance minister again questioned the logic of hanging on to loss-making state companies I love Tito”s frankness, it won’t earn him a lot of friends in the tripartite that promotes corruption and state capture, but speak Minister you’ve supplied the aloe medicine 👏🏽👏🏽 so lets see..TitoMboweni wants to sell off the good stuff that makes a profit (cos its easy to sell and there are buyers)and then most likely pour all the money into the lossmakers that means in the end the taxpayer has all the loss makers(still) and all the good stuff is gone
Source: BDliveSA - 🏆 12. / 63 Read more »

Tito Mboweni blasted on social media for claiming SA is too 'Africanist''You go get to the airport through immigration, most of the immigration officials would be Africans, yet they should really be representing the demographics of the country, which is black and white, male and female.' Tito is right. We cry when companies are all white 🤣🤣🤣🤣🤣🤣🤣 Why is that same emphasis made on senior management of private sector companies as well? We can't have 50/50 numbers because Indians ,colourds and white are the minority, but I do think that we should ensure that every sector represents our diversity.
Source: TimesLIVE - 🏆 28. / 59 Read more »

NCOP committee adopts PIC Amendment Bill in snub to Tito MboweniStronger corporate governance and transparency is envisaged and provision is made for trade union representation on its board They want to be able to claim credit for having taken some action before the election. Tito’s “niceties” are probably above their ability to grasp the significance of their omissions. Now it’s evident,they seriously don’t take Him serious
Source: BDliveSA - 🏆 12. / 63 Read more »