Gauteng Finance MEC Jacob Mamabolo says the province is now in a better position to move forward with the establishment of a state-owned bank and a state-pharmaceutical company.
The plans around the establishment of the two entities were first announced by the premier in his 2023 maiden state of the province address.
Mamabolo says the pharmaceutical company will boost the health sector while the state-owned bank will support township entrepreneurs on access to tailor made financing.
He says he has received due diligence legal reports which clears the legal hurdles and provides government with the legal framework for the establishment of the entities.
“We are very much pleased that we are ready to approach our premier and the provincial government and the MECs. Tomorrow we are consulting with the MEC of Health and the team at health and we also expect to see some CEOs. We will also consult the MEC of Economic Development, MEC (Tasneem) Motara who also has some of the institutions in the province that are a critical stakeholder to this process.”
VIDEO: Mamabolo on establishment of state-owned bank and pharmaceutical company:
