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State-Owned Corporations
BY Ebrahim-Khalil Hassen
South Africa
18 July 2018
R 10 080.00 (ZAR)  
estimated $ 730.26 (USD) *
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State-Owned Companies


This report focuses on developments in State-Owned Corporations (SOCs), also known as State-Owned Enterprises (SOEs), which according to the National Treasury had assets of R1,225.2bn in the 2016/17 financial year. The most recent Presidential Review Report indicated that there are more than 700 SOCs, including provincial and municipal entities and 172 national government entities.


State Capture


SOCs are established primarily to provide public goods and services and to play a developmental role in society. The importance of these entities being run ethically and efficiently is underlined by the crucial role that they play in sectors such as energy, transport, logistics and arms manufacturing. In South Africa, however, the larger South African SOCs have been accused of participating in large-scale corruption, which has been termed ‘state capture’ over the last few years. In 2017 parliament hosted an inquiry into the state capture of Eskom, Transnet and Denel and a Commission of Inquiry into general state capture, headed by Deputy Chief Justice Ray Zondo, has since been commissioned.


Report coverage


The report on South African SOCs focuses on current conditions, highlighting underperforming entities, governance failures and the possibility of privatisation in the SOC sector. The report profiles 24 of the major SOCs, including South African Airways (SAA) which during 2017 was recapitalised to the tune of R13.7bn, and the South African Post Office (SAPO) which received R3.7bn from government. Also profiled is the Development Bank of Southern Africa t/a DBSA, which seeks to "accelerate sustainable socio-economic development and improve the quality of life of the people of the Southern African Development Community (SADC) by driving financial and non-financial investments in the social and economic infrastructure sector.”


Page
1. INTRODUCTION 1
2. DESCRIPTION OF THE INDUSTRY 1
2.1. Industry Value Chain 2
2.2. Geographic Position 3
3. SIZE OF THE INDUSTRY 4
4. STATE OF THE INDUSTRY 12
4.1. Local 12
4.1.1. Corporate Actions 18
4.1.2. Regulations 19
4.1.3. Enterprise Development and Social Economic Development 20
4.2. Continental 21
4.3. International 22
5. INFLUENCING FACTORS 24
5.1. Economic and Political Environment 24
5.2. Labour 25
5.3. Information Technology and/or Technology 27
5.4. Environmental Concerns 28
6. COMPETITION 28
7. SWOT ANALYSIS 29
8. OUTLOOK 30
9. REFERENCES 31
9.1. Publications 31
9.2. Websites 32
COMPANY PROFILES 33
AIR TRAFFIC AND NAVIGATION SERVICES COMPANY LTD 33
AIRPORTS COMPANY SOUTH AFRICA SOC LTD 36
ALEXKOR SOC LTD 41
ARMAMENTS CORPORATION OF SOUTH AFRICA SOC LTD 44
BROADBAND INFRACO SOC LTD 47
CEF (SOC) LTD 50
DENEL SOC LTD 54
DEVELOPMENT BANK OF SOUTHERN AFRICA 58
ESKOM HOLDINGS SOC LTD 61
FINANCIAL SECTOR CONDUCT AUTHORITY 66
INDEPENDENT DEVELOPMENT TRUST 68
INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA LTD 71
LAND AND AGRICULTURAL DEVELOPMENT BANK OF SOUTH AFRICA 82
PASSENGER RAIL AGENCY OF SOUTH AFRICA 87
PETROLEUM OIL AND GAS CORPORATION OF SOUTH AFRICA SOC LTD (THE) 90
SOUTH AFRICAN AIRWAYS (SOC) LTD 93
SOUTH AFRICAN BROADCASTING CORPORATION SOC LTD 97
SOUTH AFRICAN EXPRESS AIRWAYS (SOC) LTD 101
SOUTH AFRICAN FORESTRY COMPANY (SOC) LTD 104
SOUTH AFRICAN NUCLEAR ENERGY CORPORATION SOC LTD (THE) 107
SOUTH AFRICAN WEATHER SERVICE 110
SUID-AFRIKAANSE POSKANTOOR (SOC) LTD 112
TELKOM SA SOC LTD 115
TRANS-CALEDON TUNNEL AUTHORITY 120
TRANSNET SOC LTD 122