The current state-owned entities’ governance landscape ranges from fragmented accountability frameworks to convoluted array of parent entities, subsidiaries and sub-subsidiaries. The article reviews the state-owned entities’ governance landscape to unravel underlying inconsistencies and contradictions and thereby provides a compelling argument for opting to create an overarching state-owned entities’ governance and seamless legislative framework. As the proposed overarching option is not an absolute resolve, the study tests whether the option could assist in arriving at a liberating praxis that would straddle though fulfilling corporate and developmental aspirations of the state. The study perused research reports and literature review applying qualitative methods.