South African President Cyril Ramaphosa wants a council he appointed in June to work quickly towards repositioning struggling state-owned enterprises as effective instruments of economic transformation and development, his office said late on Thursday. The Presidential State-owned Enterprises Council (PSEC) is one of several task teams Ramaphosa has appointed since coming to power in 2018 to work towards kickstarting a stalled economy hurt in part by rampant corruption and, this year, the Covid-19 pandemic.
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