R/€ = 15.98 Change: -0.01
R/$ = 14.14 Change: -0.02
Au 1323.80 $/oz Change: 0.75
Pt 807.76 $/oz Change: 2.66


Mthatha airport downgrade forces flights cancellations for SA Express

By: African News Agency      25th January 2019 SA Express on Friday announced that it was canceling its flights to Mthatha with immediate effect because the airport there has been downgraded. The Civil Aviation Authority has downgraded the Mthatha airport effective from Friday, 25 January 2019, following a negative audit finding against it. 

SAA allocated R5bn for debt relief

By: Marleny Arnoldi     24th October 2018 State-owned South African Airways (SAA) will receive R5-billion through a special appropriation Bill to settle debt redeeming between now and March 2019. The Medium Term Budget Policy Statement (MTBPS), which was released by the National Treasury on Wednesday, stated that the funds would help to... 

Mboweni calls for ‘open-minded’ approach to reconfiguration of State firms 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has called for a reconfiguration of South Africa’s debt-laden State-owned companies (SoCs) and has appealed to stakeholders to adopt an open-mind with regard to the form such restructuring could take, particularly in the cases of Eskom and South African Airways... 

Poor governance, corruption led to a number of shortfalls at SA Express- MPs heard

By: African News Agency      29th August 2018 Lack of leadership capacity and poor governance due to lack of focus over the years has led to a number of procurement shortfalls and poor performance culture at the embattled regional airline South African Express, Parliament's portfolio committee on public enterprises heard on Wednesday.... 

Expo aims for 50% more visitors this year

By: Halima Frost     29th June 2018 Building on record attendance of more than 2 280 visitors to Africa's leading transport, materials handling, logistics and fleet management event the TruckX Conference and Expo (TruckX) at the Kyalami grand prix circuit, in Midrand, last year, TruckX 2018 hopes to increase this year’s attendance... 

Govt, business welcome S&P’s ratings decision

By: Marleny Arnoldi     28th May 2018 Government and business leaders have expressed relief at ratings agency Standard & Poor’s (S&P’s) decision on Friday night to not further downgrade South Africa’s investment grade rating, but rather affirm long-term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively. According... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs

16th May 2018 The full text of Public Enterprises Minister Pravin Gordhan’s Budget Vote speech to Parliament on May 15. In it, the Minister warns that it has become evident that several State-owned companies (SOCs) will not be able to trade and borrow their way out of their financial difficulties and that some... 

New SAA leadership team promises to take airline ‘back from the brink’ 

By: Terence Creamer     7th November 2017 Finance Minister Malusi Gigaba has promised that there will be a clear delineation of the roles between the shareholder, the board and the CEO at embattled national carrier South African Airways (SAA), following the constitution of the new board on November 3 and the appointment of Vuyani Jarana... 

Various State assets being identified for disposal as Gigaba drops deficit and debt bombshells 

By: Terence Creamer     25th October 2017 Finance Minister Malusi Gigaba confirmed the worst in his maiden Medium-Term Budget Policy Statement (MTBPS), revealing serious fiscal slippages amid bail-outs of State-owned companies (SOCs), a worryingly sharp deterioration in revenue collections, a material downward revision to the country’s... 

Point of no return

By: Terence Creamer     8th September 2017 Hardly a day goes by when there isn’t a new and disturbing headline about governance, or the lack thereof, at one of South Africa’s State-owned companies (SOCs). To be sure, when historians reflect on the President Jacob Zuma-era, the ‘capture for looting’ of the country’s SOCs will be a major... 

Brown urges recapitalisation of SA Express amid questions over waste

By: African News Agency      30th August 2017 South African Express CEO Victor Xaba was forced to concede on Wednesday that the loss-making airline did not take firm enough action on irregular spending, after Public Enterprises Minister Lynne Brown reiterated that it needed a cash injection from the State. “Let’s say in all fairness not... 

Brown supports secondment of Victor Xaba as SA Express acting CEO

By: Creamer Media Reporter      10th April 2017 Denel Aerostructures deputy CEO Victor Xaba has been seconded to serve as acting CEO of South African Express (SA Express), effective April 10. This follows after extensive consultations between the boards of Denel and SA Express, as well as the Department of Public Enterprises, and has the... 

Treasury agrees, in principle, to substantial capital injection for SAA

By: Natasha Odendaal     22nd February 2017 The National Treasury on Wednesday announced it had agreed, in principle, to a substantial capital injection into troubled South African Airways (SAA); however, it could not confirm the amount or timeline for the capital injection. Treasury confirmed in the National Budget that, during 2017/18,... 

Fedusa takes aim at SoEs with Section 77 notice  

By: Natasha Odendaal     16th January 2017 The Federation of Unions of South Africa (Fedusa) is taking a stand against government’s alleged failure to appoint “suitably qualified, accountable, responsible and responsive” management at some of South Africa’s vital parastatals. A Section 77 Protest Action Notice has been lodged with the... 

SAA to continue to post losses until 2021 despite new turnaround promise 

By: Terence Creamer     28th October 2016 Embattled national carrier South African Airways (SAA) has indicated that it is likely to remain lossmaking until 2021, but that the scale of its losses should continue to decline. The State-owned group reported a loss of R1.5-billion in 2015/16, following a loss of R5.6-billion in the previous... 

Parliamentary Committee encouraged by SA Express turnaround strategy

By: Keith Campbell     21st August 2015 Parliament’s Portfolio Committee on Public Enterprises has welcomed the turnaround strategy of State-owned regional carrier South African Express (SAX). This was reported in a media statement issued by the Committee, following a briefing it received from the airline on its financial and... 

SA Express turnaround strategy well received by Parliamentary committee

By: Keith Campbell     5th August 2015 Parliament’s Portfolio Committee on Public Enterprises has welcomed the turnaround strategy of State-owned regional carrier South African Express (SAX). This was reported in a media statement issued on Wednesday and which followed a briefing of the Committee by the airline on its financial and... 

Denel Aviation launches major training project

By: Keith Campbell     18th September 2014 South African company Denel Aviation signed a memorandum of understanding (MoU) with one of the world's top simulation and training companies, Canada's CAE, and its local partner, Elisa, on Thursday, at the African Aerospace and Defence exhibition at Air Force Base Waterkloof, just south of... 

Gigaba hints to yet more SAA support, but wants new plan first 

By: Terence Creamer     15th October 2012 Public Enterprises Minister Malusi Gigaba has set a December 15 deadline for the delivery of a “road map” for turning around loss-making national carrier South African Airways (SAA), which reported another loss of R1.3-billion in 2011/12, contributing to cumulative losses of around R14-billion... 

Discussions ongoing on ‘vital’ support for SAA - Gigaba 

By: Terence Creamer     16th May 2012 Shareholder support for South African Airways (SAA) to procure a modern and fuel-efficient fleet was vital for its future competitiveness, Public Enterprises Minister Malusi Gigaba told lawmakers on Wednesday. However, he stopped short of confirming a mooted R6-billion capital injection, saying... 


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