Govt considers sale of stake in Telkom to bailout SAA

DA parliamentarian Alf Lees stunned MPs when he revealed government's proposal to sell off its stake in Telkom to raise a R10 billion bailout for ailing national airline SAA.

Lees was in possession of a Cabinet document containing Finance Minister Malusi Gigaba’s detailed proposal for the move and says he exposed the information using parliamentary privilege.

Read: SAA could receive another R10billion cash injection from govt

He says Telkom has been turned around successfully because it operates as a proper business.

Lees says SAA's debt is now becoming the taxpayers debt.

Meanwhile, Gigaba says the plan to sell off Telkom shares is just one option being considered.

Take a listen:


Recommended

by NEWSROOM AI
Read More
SAA could receive another R10billion cash injection from govt

SAA could receive another R10billion cash injection from govt

Scopa chair Themba Godi and transport economist Dr Joachim Vermooten weigh in on SAA's debt woes.

Parliament expresses concern over SAA's enormous debt

Parliament expresses concern over SAA's enormous debt

EWN Reporter Gaye Davis reports on the interrogation of the irregular, fruitless and wasteful expenditure racked up SAA.

ANC SG can question Hanekom's fitness as disciplinary chair, explains Mkhize

ANC SG can question Hanekom's fitness as disciplinary chair, explains Mkhize

Derek Hanekom was given 10 days to show cause as to why he should not be removed as chair of the ANC's disciplinary committee.

SAA a symbol of how poorly SOEs are managed in SA, says Moneyweb editor

SAA a symbol of how poorly SOEs are managed in SA, says Moneyweb editor

South African Airways (SAA) is apparently losing as much as R370 million a month, Moneyweb editor Ryk van Niekerk explains.

Malusi Gigaba rules out privatisation of SAA

Malusi Gigaba rules out privatisation of SAA

Finance minister, Malusi Gigaba, appeared before Parliament's finance committee on Friday morning.

New CEO Jarana must stem the bleeding of SAA cash flow - Guy Leitch

New CEO Jarana must stem the bleeding of SAA cash flow - Guy Leitch

Numsa is marching against poor working conditions at SAA and corruption in the company.

Popular articles
How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Calls for more women to come forward and testify at Timothy Omotoso's trial

Calls for more women to come forward and testify at Timothy Omotoso's trial

Thanduxolo Jindela explains why he is running a campaign to encourage more of Omotoso’s victims to come out and testify.

10-year-old maths whiz Sbahle Zwane gets a scholarship from Curro school

10-year-old maths whiz Sbahle Zwane gets a scholarship from Curro school

Azania Mosaka catches up with Sbahle Zwane's mother to hear about developments with his schooling.

Is the ANCYL still relevant and who is likely to take over the leadership reins?

Is the ANCYL still relevant and who is likely to take over the leadership reins?

Former ANCYL spokesperson and eNCA political reporter Samkele Maseko discuss who is up for the new ANCYL leadership.

'It's unacceptable that government officials pay R75 for luxury apartments'

'It's unacceptable that government officials pay R75 for luxury apartments'

IFP national spokesperson Mkhuleko Hlengwa says the party is calling for a review of these rates that are a cost to taxpayers.

[WATCH] Sars boss confusing, evasive testimony at Nugent Commission

[WATCH] Sars boss confusing, evasive testimony at Nugent Commission

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Getting drunk improves creative problem solving - Harvard Business School

Getting drunk improves creative problem solving - Harvard Business School

Bruce Whitfield asks branding and advertising expert Andy Rice about a peculiar study that has creatives reaching for the tequila.