Malusi Gigaba

South Africa Faces Another Setback with Low Business Confidence Index

South Africa Faces Another Setback with Low Business Confidence Index

Moody’s Investor Service recently downgraded South Africa in its ratings review. A latest survey indicating lower business confidence will be another major setback for South Africa after political turmoil the country is already facing. South African economy slipped into recession as the recent economic and manufacturing reported decline in revenue. Business confidence dropped to levels not seen since year 2009 in South Africa.

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Cosatu at Rage by Mpho Makwana Replacement

Cosatu at Rage by Mpho Makwana Replacement

Malusi Gigaba, Public Enterprises Minister (PEM), was asked to postpone the week’s meeting of the Eskom board by The Congress of SA Trade Unions (Cosatu). Replacement of Mpho Makwana by Zola Tsotsi as an Eskom Chairman was announced on Thursday by the government.

This change was opposed by Cosatu as it stated that it is completely incorrect that the ministers of PEM did not consult the main stakeholders like National Union of Mineworkers (NUM), Cosatu and other trade unions, while deciding the changes.

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SAA Order 25 Aircrafts

SAA Order 25 Aircrafts

An order for 25 new aircrafts has been made by South African Airways (SAA) in hopes to increase the penetration in the African market. Over the next four years, Africa will expect the various ranges of aircrafts.

The SAA also plans to include addition routes to make operations more broad. This is in part to improve Africa’s footprint. This new increase in aircrafts means an increase in job opportunities. There will be at least 13, 000 new jobs created as well as 40, 414 jobs in their associate supply chains.

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South African SOEs Hold Power over Future State of National Economy

South African SOEs Hold Power over Future State of National Economy

According to South Africa’s Minister of Public Enterprises Malusi Gigaba, enterprises owned by the state are in a better position to push economic growth in the country than other types of businesses in South Africa.

Gigaba, who was talking at a conference hosted by the South African Chamber of Commerce and Industry in Rosebank, said that state-owned-enterprises (SOEs) were in a position where they have the power to either stunt economic growth or serve as a catalyst for further investments.

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Gigaba egged SOEs on an agenda of transformation and skills development

state owned enterprises

Malusi Gigaba, Public Enterprises Minister push state owned enterprises (SOEs) on recent developments related to transformation and skills development under his supervision.

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Molefe to lead Transnet in its 93.4billion Rand project

Transnet

The Transnet Limited, a state owned pipeline rail and ports operator that was lacking a permanent appointee to the post of the Executive in Chief, finally got one. Mr. Brain Molefe was named the new C. E. O of the state owned organization by the South African government. From what Mr. Malusi Gigaba, hon. Minister of public Enterprises said it was known that sixty three candidates were short listed for the post and it was Mr. Molefe who was selected to the chair.

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Gigaba promised to fill up vacant posts very fast in the state-owned companies

Malusi Gigaba

Yesterday, Malusi Gigaba, the public enterprise minister named the new board of Transnet and gave the board three months time to find out an eligible CEO of the company. He moreover stated that he will take very fast actions to fill up the executive post of the state-owned companies.

The appointments are the part of a strategy of the government to shake up state owned enterprises. The posts are vacant due to suspensions, resignations and dismissals.

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