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South Africa seeks to replicate the success achieved by bringing private partners into telecommunications firm Telkom with the creation of a new state company that will manage its R155 billion ($9.4 billion) property portfolio.<\/p>\n
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New online verification platform to exorcise ghost workers in public sector
Jeremy\u2019s weekly wrap: Government gets tough and industry under pressure<\/p>\n
The establishment of South African National Property Company, which will oversee 88 000 buildings and 5 million hectares (12.4 million acres) of land, was announced by President Cyril Ramaphosa in his state-of-the-nation address in February.<\/p>\n
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\u201cWe think by bringing in the private sector, by bringing in private-sector ownership and private-sector partnership, we can see a new Telkom emerge and that we envisage one day could also be listed as well and generate substantial dividends,\u201d Dean Macpherson, the minister of public works and infrastructure, said at a Foreign Correspondents\u2019 Association of Southern Africa event in Johannesburg on Friday.<\/p>\n
Telkom was partially privatised in 2003 via an initial public offering on the Johannesburg Stock Exchange, with the government retaining a 41% stake.<\/p>\n
Read:
State blacklists 52 companies in long-overdue procurement crackdown
Government bets R155bn property portfolio can fund growth<\/p>\n
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In a recent earnings update, the telecommunications company said it expects basic earnings per share from continuing operations to rise 45% to 55%.<\/p>\n
Macpherson said his department plans to start disposing of at least 801 mostly residential properties in the current financial year.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n
#South #Africa #aims #replicate #Telkoms #success #property #firm<\/p>\n","protected":false},"excerpt":{"rendered":"
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