Finance Minister says State may privatise loss-making commercial SOEs

Finance Minister says State may privatise loss-making commercial SOEs

The writing is on the wall for loss-making commercial state-owned companies who have been a drain on State coffers to be privatised.
This comes after Minister of Finance Ipumbu Shiimi revealed that his counterpart overseeing Public Enterprises Leon Jooste, is currently busy with an evaluation of unspecified State-owned entities, to decide which to retain or privatise.
Shiimi indicated that a report will be submitted to Cabinet upon which a final decision will be taken before the end of this financial year early next year.
Shiimi, who preferred to remain tight-lipped on the nature of the assessment, indicated that the national airline, Air Namibia, is amongst the list of parastatals being probed by Jooste.
He made the remarks during a discussion on the mid-term budget review at a local hotel today.
According to public records, Namibia has a portfolio of more than 90 public enterprises with a total asset value of N$93 billion and employing more than 17 220 people.
Meanwhile, the former central bank governor says they are owed approximately N$10 billion in tax which they are keen to collect with the new Namibia Revenue Agency.
There are also 12 200 teachers and nurses facing retirement, who they can approach with incentives for early retirement to ease pressure on the public wage bill, he added.
In addition, he indicated that investment in infrastructure remains a key pillar in economic growth.