South Africa: Select Committee Commends Department for No Bailouts to SOEs

26 November 2024
Parliament of South Africa (Cape Town)
document

To download the soundbite of the Chairperson of the Select Committee on Agriculture, Land Reform and Mineral Resources, Mr Bones Modise, click here: https://iono.fm/e/1506395

The Select Committee on Agriculture, Land Reform and Mineral Resources met today with the Minister of Mineral and Petroleum Resources, Mr Gwede Mantashe, the Department of Mineral and Petroleum Resources and the Department of Electricity and Energy.

The meeting provided an in-depth understanding of the mandates, functions and responsibilities of the departments and their respective entities.

During the discussions, the committee commended the department for its outstanding efforts in ensuring the financial stability of its State-Owned Enterprises (SEOs) over the past six years, for which no bailouts were required. Committee Chairperson Mr Bones Modise said, "This achievement reflects a strong commitment to fiscal responsibility and effective management, reinforcing the resilience of our SOEs in the face of economic challenges."

A significant concern was the ongoing issue of illegal mining, recognised as a countrywide problem affecting various regions across South Africa. Members of the committee highlighted the need for robust regulations to address this pressing issue effectively. Minister Mantashe firmly stated that illegal mining is a criminal activity rather than a mere regulatory violation. He stressed that law enforcement involvement is crucial in tackling this challenge, as it poses serious risks to the economy and community safety.

The committee also sought clarity on the future of South Africa's energy supply, particularly regarding the transition from coal to gas and potential partnerships with Mozambique and Russia for gas supply. Additionally, members inquired about the current status of oil and gas exploration along the West Coast, stressing the importance of considering the implications for local communities and environmental sustainability.

Furthermore, the discussions highlighted the department's need to enhance its efforts in addressing historical inequalities within the mining sector. Members called for strategies that promote historically disadvantaged groups' participation and ensure that sector benefits are equitably distributed.

Read the original article on Parliament of South Africa.

Tagged:
Copyright © 2024 Parliament of South Africa. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 110 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.