State-Owned Enterprises challenged to generate Profits

State-Owned Enterprises SOE’s have been challenged to generate profits that can contribute to national agenda.

The call was made during the signing of shareholder’s Letters of Expectations.

Minister of Finance and Economic Affairs, Simplex Chithyola Banda took a swipe at some SOE’s for performing below expectation therefore assigned Secretary to Treasury to facilitate performance assessment to see how best to position them.

Comptroller of Statutory Corporations, Peter Simbani, said he is going to monitor SOEs to ensure they achieve results.

Chief Executive Officer for National Economic Empowerment Fund (NEEF), named as one of the best performing SOE’s, Humphrey Mdyetseni said the letters of expectations are a pathway on how to travel in the next 12 months.