Moneyweb
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3 minute read
22 Sep 2020
8:20 am

Gordhan’s bid for SAA questioned

Moneyweb

Government committed to 'mobilise' the funding, but this has not yet materialised, despite the best efforts of the BRPs.

Picture: Neil McCartney

Government will in the coming week sort out where to find the more than R10 billion needed for the restructuring of South African Airways (SAA) and start of the “new” SAA, according to Public Enterprises Minister Pravin Gordhan. Gordhan told Bloomberg that government’s commitment is clear, and that meetings in the coming week will resolve “the money issue”. This comes after his department said on Friday that money will be reprioritised in Finance Minister Tito Mboweni’s adjustment budget next month and the hole will in the meantime be plugged with loans. Whether Mboweni has agreed to any provisions in the...