South Africa to Shut Public Enterprises Department

South Africa’s government intends to shut down the Department of Public Enterprises, which oversees seven of the biggest state companies, when a new administration takes office after elections in about a year’s time.

President Cyril Ramaphosa announced the closure of the department in his state-of-the-nation address in February, in accordance with a resolution taken by the ruling African National Congress. Power utility Eskom Holdings SOC Ltd., port and freight-rail operator Transnet SOC Ltd. and the other companies will then fall under direct control of their line ministries.