Doha:KwaZulu-Natal Finance MEC Francois Rodgers has urged young entrepreneurs to focus on building businesses grounded in hard work, integrity, and solid financial management. Speaking at a recent event organized in collaboration with the South African Institute of Professional Accountants (SAIPA) and Standard Bank, Rodgers emphasized the role of young professionals in driving economic growth and contributing to the development of a capable and ethical state.

According to South African Government News Agency, Rodgers highlighted the potential of entrepreneurship to create income and employment opportunities for young people. He stressed that young entrepreneurs play a crucial role in enhancing the provincial economy and contributing to ethical governance. Rodgers advised young businesspeople to prioritize integrity and ethical conduct to achieve long-term success, and while the provincial Treasury does not directly provide funding, it offers guidance on financial management.

In addition to his focus on entrepreneurship, Rodgers addressed the need for reform in State-owned enterprises (SOEs). He argued that South Africa has sufficient policies and plans for SOEs, but lacks the political will and institutional discipline to implement reforms. He called for practical solutions to improve SOE performance, emphasizing that SOEs must have a clear public purpose and should be evaluated on their ability to deliver services effectively while maintaining financial sustainability and ethical governance.

Rodgers warned against the continued financial support of failing SOEs, stating that bailouts strain public finances and divert resources from essential services like schools and infrastructure. He advocated for structural reforms with conditions, transparency, and accountability. Furthermore, he insisted that board appointments should be based on competence, free from political interference, and highlighted the importance of early-warning systems to address financial and operational issues proactively.

Rodgers concluded that solutions for SOEs should be tailored and could involve improved governance, restructuring, partnerships, and some private sector involvement. He stated that if an enterprise lacks a sustainable mandate or credible recovery path, the government should consider closure, as fiscal resources are not unlimited. The provincial Treasury's role, he emphasized, is to ensure public funds are used effectively and that SOEs are worthy of public ownership.