November 30, 2021

Government aims to complete sale of SAA by early 2022

South Africa expects to conclude the sale of a majority stake in its state-owned airline to personal traders early subsequent 12 months, Public Enterprises minister Pravin Gordhan mentioned.

The sale of 51% of South African Airways to the Takatso consortium is “certainly moving in the right direction,” Gordhan, who oversees state-owned firms, mentioned in an interview with Bloomberg Tv on Friday.

“There are a few more regulatory hoops that we have to jump through, so early in the new year that process should be completed.”

The group buying the stake contains Johannesburg-based World Airways, which owns new home airline Raise, and private-equity agency Harith Basic Companions.

The emergence of a brand new coronavirus variant, which has prompted a number of nations to quickly ban flights to the nation, is unlikely to have an effect on the worth they pay, Gordhan mentioned.

The minister additionally expressed his unequivocal backing for Andre de Ruyter, the chief govt officer of state energy firm Eskom, who has confronted calls from some labour unions and enterprise teams to resign. The nation has seen file blackouts this 12 months, with Eskom failing to meet demand from its outdated and poorly maintained vegetation.

Extra data is anticipated to turn out to be out there subsequent week concerning the new virus variant, its transmissibility and the way it must be responded to, in accordance to Gordhan.

“Those are matters that over the next few days government will apply its mind to,” he mentioned. “We have learned a few lessons from the first few waves, so to speak. The balance between lives and livelihoods needs to be carefully managed.”


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