Proper functioning SOEs would lift burden on taxpayers – Jooste

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Windhoek

The Minister of Public Enterprises Leon Jooste says that with proper monitoring of the programmes of state-owned enterprises (SOEs), financial performance will improve, with the intention of making some of these public entities financially self-reliant.

He said this will relieve the financial burden on the Treasury as government constantly has to bail out SOEs, and once this is achieved, he added, the State will be able to divert these funds to many other priorities earmarked for poverty eradication.

In the same vein, he said, well-performing SOEs will be paying dividends to government, and this will empower the national fight against poverty.

Jooste announced that the Ministry of Public Enterprises is also going to facilitate the first Poverty Eradication Strategy for Namibian Public Enterprises.

He believes many SOEs have a role to play in the fight against poverty and that the ministry will facilitate the process by the formulation of such a strategy together with the Ministry of Poverty Eradication and Social Welfare.

Jooste informed the house that the SOEs in Namibia represent a combined asset value of close to N$40 billion.

The role of SOEs, in the country’s economy, Jooste explained, is absolutely cardinal and the reform of this sector is paramount to maintain sustainable economic growth.

 

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