logo
Parks Tau faces scrutiny over IDC board appointments

Parks Tau faces scrutiny over IDC board appointments

IOL News7 days ago
Trade, Industry and Competition Minister Parks Tau says he will reply to specific questions from MPs at the meeting of the portfolio committee in connection with the appointment of the Industrial Development Corporation board members.
Image: GCIS
Trade, Industry and Competition Minister Parks Tau is resisting calls for clarity regarding the appointment of the Industrial Development Corporation (IDC) board members.
He informed DA MP Toby Chance and EFF MP Sinawo Thambo that he would address their specific questions during the upcoming Portfolio Committee meeting on Trade, Industry and Competition.
He stated that he had been invited to brief the portfolio committee on the appointment of the IDC board on July 22, but the meeting was postponed.
'Upon the rescheduling of the meeting, specific questions will be directly responded to during the meeting or after if there is still a need,' he said in his standard response.
Chance on Thursday accused Tau of being evasive and deviating from his usual detailed responses.
'He has provided no information at all; ministers are obligated to respond in writing to written questions, which is unsatisfactory,' said Chance.
'We normally get detailed responses from him. This time, he seems very evasive in not providing answers,' he added.
Last month, the Cabinet announced a new eight-member board for the IDC, which included ANC-aligned members such as former ministers Sydney Mufamadi and Ayanda Dlodlo, and former KwaZulu-Natal premier and now Higher Education Deputy Minister Nomusa Dube-Ncube.
The Cabinet had also appointed Sam Bhembe, who is reportedly involved in a court battle with the finance institution over a R70 million debt.
The IDC board appointments happened at a time when there was a public outcry over the appointment of chairpersons for the boards of Sector and Education Training Authorities, which have since been cancelled.
At the time, Thambo requested an urgent committee meeting, and committee chairperson Mzwandile Masina wrote to Tau indicating it was prudent that they receive a briefing on the process followed in the IDC board appointments.
Thambo also sent questions to Tau, wanting to know the process followed and the measures his department implemented to safeguard the IDC from undue political influence, among other things.
He had expressed concern about a pattern of compromised appointments that was a direct consequence of politically motivated deployments.
'The IDC must not be reduced to a retirement destination for politically connected individuals,' read Thambo's letter to Tau. Get your news on the go, click here to join the Cape Argus News WhatsApp channel.
Cape Argus
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SACP set on ‘divorcing' the ANC
SACP set on ‘divorcing' the ANC

Mail & Guardian

time2 hours ago

  • Mail & Guardian

SACP set on ‘divorcing' the ANC

Going it alone: The ANC is not happy with the decision by the SACP to contest elections independently of its alliance partner. Photo: File The communist party has rejected overtures from its alliance partner and will contest the 2026 local government elections independently This content is restricted to subscribers only . Join the M&G Community Our commitment at the Mail & Guardian is to ensure every reader enjoys the finest experience. Join the M&G community and support us in delivering in-depth news to you consistently. Subscription enables: - M&G community membership - independent journalism - access to all premium articles & features - a digital version of the weekly newspaper - invites to subscriber-only events - the opportunity to test new online features first Already a subscriber?

South Africa's struggle with US trade relations amidst looming tariffs
South Africa's struggle with US trade relations amidst looming tariffs

IOL News

time4 hours ago

  • IOL News

South Africa's struggle with US trade relations amidst looming tariffs

Analysts say the South African government is wasting time in engaging with US President Donald Trump. Image: AFP Political analysts say the South African government is wasting its time in engaging with US President Donald Trump on beneficial trade and investment relations between the two countries. With a 30% tariff expected to be imposed on South African goods by the US at midnight on Thursday, negotiations were still taking place between the two countries regarding the proposed tariffs. This was after South Africa failed to secure a trade deal with the US last week. President Cyril Ramaphosa has confirmed that he had a discussion with Trump on Wednesday. Presidency spokesperson Vincent Magwenya said the two agreed to continue further engagements on bilateral trade matters. 'President Cyril Ramaphosa held a telephone discussion during the morning of 6 August 2025, with US President Donald Trump on bilateral trade matters. 'The two leaders undertook to continue with further engagements, recognising the various trade negotiations the US is currently involved in. Respective trade negotiating teams will take forward more detailed discussions,' Magwenya said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Both the Department of Trade, Industry and Competition (DTIC) and the Department of International Relations and Cooperation (DIRCO) refused to discuss the matter. Meanwhile, a senior government official within the DTIC said officials had sleepless nights with last minute discussions as they tried to avert the tariff hikes, but were keeping the news under wraps so that the talks would not be jeopardised. 'Yes, there has been huge pressure and last-minute talks to try to convince the US government to at least cut the tariffs to 15%, but that is a matter the department would have to confirm with you at a later stage if it succeeds. 'Our government has been working on it, but I can tell you now it does not look good because discussions have started late despite the president having indicated that they have made efforts to reach Trump,' the source said. Political analyst Ntsikelelo Breakfast said the government is wasting its time as Trump is unlikely to listen or be sympathetic. 'The EU has just signed (an agreement on higher tariffs) and who are we to think we can win if they sign. We are in trouble and Trump is not going to forgive us for taking Israel to the International Court of Justice. 'An attack on Israel is an attack on the US. Even Ramaphosa is wasting his time', said Breakfast. Another political analyst, Sethulego Matebesi, said Trump is likely to do what he has done during the Oval meeting with Ramaphosa in May. He said the US President will demonstrate as if he has a sympathetic ear but will do the opposite during engagements. 'Yes, he will provide Ramaphosa with a platform to engage but he will definitely not do as South Africa indicates or requests. I don't think he will change his tone because all factors that led to his decision have not been addressed, from an American point of view South African stands against Israel,' he said. Meanwhile, South Africa's Portfolio Committee on Trade, Industry and Competition expressed concerns about the impact of the tariffs, particularly on automotive, steel and agricultural products, as South African exports will become less competitive in the US. 'These sectors form part of significant value chains that exist between the two countries. South Africa is a crucial supplier of raw materials to many United States supply chains. The country also possesses strategic mineral reserves such as chrome, manganese and gold, from which the United States can benefit. Therefore, the trading relationship with the US offers opportunities for mutual development and growth,' the committee said. However, Minister in the Presidency Khumdzo Ntshavheni said the tariffs against South Africa come into effect with the provisions that tariffs will be reviewed as soon as the two countries reach agreement, or a framework deal is found that benefits both countries. Ntshavheni, who was addressing a post-Cabinet briefing on Thursday, said Cabinet affirmed the government's commitment to finding solutions on the tariffs through negotiations. She also announced that the Cabinet set targeted measures to support the affected industries, including the creation of a support desk that will act as a direct liaison with companies affected by the new tariffs. Ntshavheni added that the desk will also assist with tariff absorption and long-term resilience planning.

Ramaphosa speaks to Trump as SA scrambles to avert 30% US tariffs as deadline hits
Ramaphosa speaks to Trump as SA scrambles to avert 30% US tariffs as deadline hits

IOL News

time5 hours ago

  • IOL News

Ramaphosa speaks to Trump as SA scrambles to avert 30% US tariffs as deadline hits

Presidents Cyril Ramaphosa and Donald Trump held a telephonic discussion amid looming 30% US tariffs, with both leaders committing to continued negotiations to address trade imbalances and strengthen economic cooperation. Image: AFP President Cyril Ramaphosa and US President Donald Trump have spoken telephonically on , Tuesday, August 6, 2025, to further discuss bilateral trade matters. According to the presidency spokesperson Vincent Magwenya, 'the two leaders undertook to continue with further engagements recognising the various trade negotiations the US is currently involved in.' He added, 'Respective trade negotiating teams will take forward more detailed discussions,' emphasising ongoing efforts to resolve trade issues. The 30% tariffs imposed by the United States on South African imports were initially expected to come into effect last week. However, Trade and Industry Minister Parks Tau confirmed that no final trade agreement has yet been reached between the two countries. The tariff increase follows a formal letter from President Trump to President Ramaphosa, demanding that South Africa address long-standing trade imbalances and market access restrictions. The tariff is due to be implemented at midnight. Minister in the Presidency Khumbudzo Ntshavheni provided an update on the framework deal following a briefing on the outcomes of Cabinet meetings on Thursday, August 7, 2025. She said, 'In light of the 30% tariffs against South Africa that are expected to come into effect today, the 7th of August 2025, with the provision that the tariffs will be reviewed as soon as the two countries reach a deal.' She further noted that Cabinet 'affirmed government's commitment to finding constructive and sustainable solutions through continued engagements with the United States of America, including at a presidential level.' On government efforts to bolster negotiations, Ntshavheni said, 'As communicated this morning through the presidency, President Ramaphosa has reached out through a phone call to President Trump yesterday morning as part of bolstering South Africa's negotiation efforts on the trade agreement.' The government remains focused on economic growth to save and create jobs, including 'intensifying diversification efforts and strengthening our global supply chain integration as the country works to expand its export markets to Asia, Europe, the Middle East, and across the African continent to enhance our economic resilience,' Ntshavheni said. Regarding industries affected by the tariffs, she explained that 'government is focusing on demand-side interventions in the impacted industries and targeted interventions to ensure industry stability and safeguarding employment.' These interventions include establishing an export support desk to assist affected companies, measures to help companies absorb the tariff and facilitate long-term resilience and growth strategies to protect jobs and productive capacity, said Ntshavheni. Ntshavheni also highlighted the introduction of a 'localisation support fund for affected companies to contribute to the national effort, and the export and competitiveness support programme, which will include a working capital facility and plant and equipment facility to address short- to medium-term needs across all industries.' She added that the government is 'working with the Department of Employment and Labour on measures to mitigate potential job losses using existing instruments within the Department of Labour's entities that can be adjusted to respond to current challenges.' Following consultations with the Competition Commission, 'a block exemption for exporters has been introduced to enable collaboration and coordination by competitors. A draft block exemption will be published by the end of this week so that the process can be concluded expeditiously, and the information will be found on the Department of Trade, Industry and Competition website,' she said. Moreover, she also said the Department of Trade, Industry and Competition, in consultation with industry associations and export councils, has compiled a South Africa-China Trade and Investment Package 2025-2029 as a basis for economic engagement with China. Ntshavheni detailed that 'on trade, the priorities are on the exchange of top 100 products, establishment of a permanent expo in China, and cooperation to address regulatory measures.' The package, she said, also prioritises investment and industrial development in sectors including 'steel, tyres, automotive, battery manufacturing, pharmaceuticals and medical devices, rail manufacturing, and the digital economy.' On the skills development component, the focus is 'on skills associated with identified priority sectors, including to service and provide after-care maintenance.' She noted that the package was shared with the Government of the People's Republic of China during Deputy President Paul Mashatile's working visit from July 14 to 18, 2025. Mashatile engaged with key Chinese state-owned enterprises and financial institutions and officially launched the South African National Pavilion at the China International Supply Chain Expo to position South Africa as a gateway to sub-Saharan Africa for trade, investment, and industrial cooperation, she said. [email protected] Get your news on the go, click here to join the IOL News WhatsApp channel. IOL Politics

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store