Cosatu Backs Conditional Partial Privatisation As IMF Warns Of ‘Prolonged Period Of Weak Economic Growth’

Riyaz Patel

The Congress of South African Trade Unions (Cosatu) says it would support private partnerships in state-owned enterprises but only if certain conditions are met.

Cosatu spokesperson Sizwe Pamla told 702 radio the federation would support privatisation if the government retains majority control of the institutions, and if no job losses occurred.

The trade union federation insisted though that its stance on privatisation hasn’t changed after its spokesperson was quoted in City Press, saying he believes some non-performing SOEs can benefit from partial privatisation.

Cosatu’s support for the partial privatisation of SOE’s coincides with a warning by the International Monetary Fund (IMF) that South Africa is at risk if economic reforms don’t materialise fast.

“Failure to implement the needed