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South African State-Owned Enterprises Facing Funding Crisis?

Official opposition party the Democratic Alliance has called for the dismissal of South African Airways chair Dudu Myeni over the "planned raid on pensioners' money" to salvage the national carrier and other bankrupt State-Owned Enterprises (SOEs). This comes as the Ministry of Finance refuted reports claiming the National Treasury wants U.S.$7.5 billion (R100 billion) of Public Investment Corporation funds to bail out struggling SOEs.

South Africa: Finance Minister On State-Owned Enterprises Bail Out Reports

Govt of SA, 25 September 2017

Minister of Finance Malusi Gigaba has noted with concern media reports that National Treasury wants to use R100-billion of the funds in the Public Investment Corporation (PIC) to… Read more »
South Africa: Finance Ministry Dismisses 'Malicious' Pic Reports

SAnews.gov.za, 25 September 2017

The Ministry of Finance has refuted media reports stating that National Treasury wants to use R100 billion of the funds in the Public Investment Corporation (PIC) to bail out… Read more »
South Africa: National Carrier Bailout with Pension Funds Unethical - Opposition

News24Wire, 24 September 2017

It's unethical to use citizens' hard-earned pension funds to rescue the failing SAA once again, the DA said on Sunday. Read more »

Photo: kev-shine/Flickr

(file photo).

South Africa: Finance Minister, National Carrier Breach Companies Act

DA, 25 September 2017

The DA has written to Malusi Gigaba, the Minister of Finance, to request that he urgently provide reasons for why the South African Airways (SAA) annual financial statements are… Read more »
South Africa: National Carrier Chief's Contract is Legal - Finance Minister

News24Wire, 22 September 2017

Finance Minister Malusi Gigaba has told Parliament's standing committee on finance that South African Airways chairperson Dudu Myeni's extended contract is legal. Read more »
South Africa: Gigaba Has No Choice but to Fire Myeni

DA, 21 September 2017

The DA wrote to the Commissioner of the Companies and Intellectual Properties Commission (CIPC) and received confirmation that Dudu Myeni's continued appointment as SAA Board… Read more »
South Africa: South Africa Needs to Sober Up to Save Itself From Sickly State-Owned Enterprises

The Conversation Africa, 11 September 2017

The South African government is said to be seriously considering selling its stake in telecommunication firm, Telkom, in order to save the troubled South African Airways (SAA).… Read more »

InFocus

South African Govt's Telkom Shares to Bail Out 'Doomed' Airline?

Allegations that Finance Minister Malusi Gigaba aims to dispose of 39.75% of government-owned shares in Telkom valued at nearly R14 billion ($U.S.1 billion) to bail out debt-ridden ... Read more »
- South Africa: Finance Minister's R10-Billion Plan to Bail Out Airliner
- South Africa: Airline Chair Blames Carrier's Woes on Historic Legacies

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