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Companies across the world including SA, have made massive profits: Gordhan

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Public Enterprises Minister Pravin Gordhan says big companies in countries across the world including South Africa, have made massive profits.

He says some have made 100%. Gordhan was participating in the Strategic Planning Session of the Presidential Climate Commission in Johannesburg on Friday.

He chaired the sub-commission for climate finance for a just transition. The sub-commission focuses on climate financing challenges and how obstacles can be overcome.

Gordhan shared information on how some obstacles could be minimised to create opportunities for the private sector through lowering risks.

“So if we reduce risk and rewards seem to be  reasonable,  although If  you watched some of the financial announcements over the last week big companies made ‘hell’ lot of profits around the world including in South Africa.

So those numbers are excruciatingly huge in terms of 100% increase in profit, 50% increase in profit.

I  hope Edward Kieswetter is doing his job there. But how  we create that kind of environment  for private capital to come in, and be part of what the first speaker spoke about as triple Public Private Partnerships is going to be quite crucial as well.”

Commissioners are now deliberating on:

-What are the priorities for climate resilience in South
-What actions should be taken to address the priorities?

Source: SABC News

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