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Nene mum on sale of non-core assets

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Finance Minister Nhlanhla Nene on Thursday again refused to identify the non-core state assets which would be sold off to raise money for Eskom.

Briefing a joint meeting of Parliament’s finance committees, Nene said the sale was almost finalised.

“No matter how much we would actually want to identify these non-core state assets, it will not be prudent and proper to share the names when we are at a sensitive stage of the transaction, which is very close to being concluded,” Nene said.

“We reconfirm the R23 billion coming from the sale of some of our non-core state assets.”

Nene told MPs he would brief them as soon as the transaction was concluded.

“Government is invested in some instances in the private sector where government is not supposed to be,” Nene said.

While government remained silent on the source of the R23bn, there has been speculation that government would sell its 13.9 percent stake in Vodacom. The money would be transferred to Eskom before year end.

“The funds will flow as per our arrangement with Eskom. The first R10bn will flow in June and the other tranche later before the end of the year.” SAPA

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