The Department of Public Enterprises (DPE) was established in 1994 with the view to privatise all state-owned enterprises (SOEs). From 1998 to 2003, there was a policy shift that focused on equity partnerships, initial public offerings and concessioning of specific assets to optimise shareholder value and economic efficiency. After 2003, the focus shifted to the development of SOEs as sustainable state-owned business entities delivering on a specific strategic economic mandate. The focus was also to direct SOEs to align their strategies with the needs and policy direction of the domestic economy, namely the positioning of SOEs in pursuit of industry or sectoral policies and the development and promotion of policies by the DPE that enhance the operation of SOEs.