The South African government has announced that it will provide support to a range of state-owned companies while also implementing the reforms that would make them more effective in delivering their mandates.
While visiting the state-run power company Eskom, President Jacob Zuma declared an end to power failures and blackouts in the country.
The president assured South Africans of close cooperation between the government, public companies and parastatals in the country.
Eskom which now covers 76% of the country’s power needs, has averted major power outages and load shedding for nine consecutive months.
— Eskom Hld SOC Ltd (@Eskom_SA) May 6, 2016
Eskom’s plant availability has improved from 69.9% in October last year to 76.3% at the end of April this year. The utility company’s boss Khulu Phasiwe assured that it will keep the lights on for good, “sources report.”
Zuma also said that his government would never sell the national airline, South African Airways. The airline has received a number of government bailouts worth billions of rands and is in the middle of a turnaround strategy.
The airline has also been unable to table its financial statements for the year 2014-15 in Parliament, which were due August 2015.
Zuma did not however disclose the amount that would be allocated to support these projects.