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

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

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
[LISTEN] Father shares how he shot the man who raped his daughter

[LISTEN] Father shares how he shot the man who raped his daughter

Johannesburg father, Chris says he had just come back from work when he walked in on an employee raping his 17 year old daughter.

Why the PAC wants South Africa renamed Azania

Why the PAC wants South Africa renamed Azania

Pan Africanist Congress's Narius Moloto explains why it supports the name Azania, a word which he says has Arabic origins.

Is the lovable Winnie The Pooh a boy or girl?

Is the lovable Winnie The Pooh a boy or girl?

A trending Twitter debate has left social media users arguing over whether Winnie the Pooh is a girl or boy.

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

UPDATE: Chilling WhatsApp from Marli van Breda's ex-boyfriend read out in court

Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.

Bad temper? 6 tips on how to keep your anger in check

Bad temper? 6 tips on how to keep your anger in check

Anger is a strong and natural emotion that everyone experiences every now and again. Here's how to manage your reactions.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?