Gordhan and Mboweni commit to obtain funding for SAA
Public Enterprises Pravin Gordhan and his finance counterpart Tito Mboweni have provided a letter to the business rescue practitioners on Wednesday evening stating that they will find funding for the South African Airways (SAA).
The Department of Public Enterprises said in a statement this will create a viable, sustainable and competitive national airline for the longer term.
Eyewitness News reporter Bonga Dlulani discusses with Mandy Weiner on The Midday Report what the letter given to the business rescue plan really means and where the government will get the R10.1 billion required to stabilise the airline.
SAA has been depending on government bailout for years and years so that money is something they need to findBonga Dlulani, EWN Reporter
Dlulani says the hardest decision the SAA will have is deciding on severance packages of 2,700 retrenched employees which meet the minimum requirements of labour relations and the incentives for those who earn less.
They are looking for equity partners and shareholders who can come in and say: 'We will give you some of the money to pay those people you want to hire.'Bonga Dlulani, EWN Reporter
Since it launched in May, the scheme's helped only 6.6% of businesses it targets. Will recent changes lead to improvement?Read More
Branding expert Andy Rice explains why NetFlorist's radio campaign is his advertising hero of the week.Read More
The Money Show's Bruce Whitfield interviews Eskom's Linda Mateza about the once-off payment to its pensioners.Read More
Lungisa Fuzile (former National Treasury DG) tore into former minister Des van Rooyen's performance and choice of advisers.Read More
Studies across the world and industries consistently show women-entrepreneurs have a better risk profile, says Janeesha Perumal.Read More
National Consumer Commission director of prosecutions Joseph Selolo says you can't be naive or claim to be duped.Read More
Following a cabinet meeting, Winde said that the province had sufficient health capability to manage COVID-19 patients.Read More
From 50 finalists the three winners have been selected and they represent top adaptive thinking in business right now.Read More
'Mr Eazi' launched the Africa Music Fund to support the continent's creative talent. Bruce Whitfield interviews Lee Kasumba.Read More
Justin Chadwick (Citrus Growers' Association) says it's all thanks to the perceived immune-boosting attraction of Vitamin C.Read More