South Africa’s National Planning Commission (NPC) is recommending the creation of a comprehensive State-owned enterprise (SOE) holding company, with a commercial company structure, to help protect SOEs from political interference. The recommendation is contained in a draft position paper that assesses the contribution of Eskom, Transnet and the Passenger Rail Agency of South Africa to the National Development Plan’s Vision 2030 and uses the assessment to provide general lessons for application to other SOEs.