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Public Investment Division

PUBLIC ENTITIES UNIT

The main focus of the Public Entities Unit would be to ensure that all statutory public entities - public or private ( where Government has shares >50%) are efficiently managed, meeting domestic and international benchmarks as well as ensuring an optimal allocation of responsibility between the public and private sector.

This would entail the need to undertake investment programmes that provide the necessary capacity to facilitate faster economic growth and thus strengthen the national economy in a sustainable way. The terms of reference for the unit would be:

  1. To monitor commercial investments of Government including investment decisions, performance monitoring and divestment decisions;
  2. To provide guidance to state-owned enterprises to ensure that such entities such efficiencies in the management of the assets are fully enhanced. This includes the proposals for the reform or restructuring of any out-dated/inefficient methodologies of state –owned enterprises or entities with state shareholding and provides standards for the maintenance of the appreciation of the state’s assets values in enterprises with state investments.
  3. To take the lead in advising the Minister on strategic, financial and procedural matters as they affect government’s participation in commercial ventures.
  4. To advise the Minister on policies of broad-based economic empowerment in structuring the investment funds with the aim of achieving economic transformation through the use of state-owned enterprises.
  5. To review and advise Minister on appropriate actions and policies as concerns government’s real property assets, programmes and earmarked contributions to government.
  6. To assess and provide accreditation of public entities who comply with government’s requirements for fiscal and financial policies.
  7. To ensure that public entities provide special features to cover risks for public finance through the selection of investment, control on overall wage costs, segregated business plan, application of the public procurement law and reporting for public information.
  8. To establish control arrangements that ensures that risks in creating public debt beyond limits by government or parliament are kept within specific levels. Agency borrowing is subject to government oversight review processes.
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