South Africa’s National Petroleum Company (SANPC) is scheduled to launch on April 1, 2025, as part of the country’s efforts to restructure state-owned enterprises and stimulate economic growth, according to the Portfolio Committee on Mineral and Petroleum Resources.
Since the Cabinet approved the merger of PetroSA, iGas and the Strategic Fuel Fund (SFF) in June 2020, work has been underway to bring them together under SANPC. The Central Energy Fund (CEF) Group, which reports to the Department of Mineral and Petroleum Resources, is overseeing the process.
The Committee welcomed a recent agreement with labor unions to ensure a smooth transition for employees from PetroSA, iGas and SFF, emphasizing that having workers on board is key to making the merger successful.
In October 2024, the Cabinet approved the SANPC Bill of 2024 for submission to Parliament. Until the Bill is passed into law, SANPC will operate under the existing CEF Group framework.
