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Our warm greetings to members and leaders of media houses present and absent at this September briefing to the media and the broader public. We rely on you to put across the correct message to the South African public.

It is now nine years since the freeing of our spirit and the birth of or democracy. Nine years of hard work as we strove to build efficient and globally competitive state enterprises that play a developmental role in the economy where meeting the needs of the poor and most vulnerable occupy centre stage.

The Department of Public Enterprises has undergone a strategic shift in terms of its mandate with a vision that states: Excellence in State Owned Enterprises Shareholder Management" and a mission that states "To provide an enhanced SOE shareholder management system, inclusive of restructuring in support of promoting economic efficiency towards a better life for South Africans".

Cabinet Lekgotla in July took decisions to overhaul the country's freight logistics system made up of systems of ports, roads and rail networks. In terms of this decision Transnet would receive financial support from government on investment spending, additional to the debt raising.

The investment figures are the following in the Transet Group. For the current financial year the gross capital expenditure budgeted is R12,3 billion. Major programmes to highlight are in rail. Spoornet plans to spend R42 billion over 15 years. Up to 2005 the National Ports Authority plans to spend R7,3 billion. South African Port Operations have a planned capex budget of R4,3 billion over the next 5 years.

In the energy sector Eskom plans to spend R64,4 billion over five years with transmission lines taking R9,8 billion while distribution and other investments equal R29,4 billion and the remainder, R25,2 billion, going into power stations, including, Simunye, Camden and Komati.

I am also pleased to announce the new board of directors of South African Airways.

Issued by the Department of Public Enterprises