South Africa: SA Express Seeks UIF Assistance to Pay Salaries As Acting CEO Resigns

analysis

SA Express is looking for help from the UIF to pay March salaries even though it hasn't made contributions to the fund - on behalf of its employees - since it was placed under involuntary business rescue by the High Court in Johannesburg on 6 February 2020.

SA Express will be the first distressed state-owned enterprise to approach the Unemployment Insurance Fund (UIF) for assistance, to pay outstanding March 2020 salaries to its 691 employees because it has run out of cash and might be liquidated.

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