Firstly, as President Zuma has indicated, entities that are no longer necessary should be phased out. The resources raised or saved will be redirected to the balance sheets of state-owned companies that should grow.
Secondly, where entities have overlapping mandates, rationalisation options will be pursued. The merger of our housing development finance institutions, DFIs, is already in progress, and is a good example. Yes. Please applaud Minister Sisulu, or else she's going to be upset with you. [Applause.] There are entities with regulatory responsibilities where capacity should be combined.
We have national and provincial entities - a large number of them - with diverse property holdings, interests in farming or trading or manufacturing enterprises, often inherited from the pre-1994 dispensation, typically buried in subsidiary companies that are not publicly accountable. These are unnecessary state investments, and often, a drain on government resources. They are also assets with the potential for growth in independent hands.
It seems clear, furthermore, that we do not need to be invested in four airline businesses.
HON MEMBERS: Hear! Hear! [Applause.]