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بهترین سایت شرط بندی ایرانی
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Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Treasury seeks conditions on SAA loan guarantees

City of Cape Town urges people to leave Kataza the baboon alone

Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…

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PICS | Truck driver killed in Pinetown after truck ploughs into several cars

A vehicle that was hit in the accident. A truck driver was killed in a horrific sequence of events following an initial crash in Pinetown. While trying to move the truck after the accident, it appeared to lose control. He died after falling out of the truck which ploughed into several cars and a wall.A truck driver…

42 people in court for R56m police vehicle branding scam

Forty-two people have been implicated in a police car branding scam. Forty-two people have been arrested for their alleged involvement in a police vehicle branding scam. They face a range of charges including corruption, fraud, money laundering, theft and perjury.Of these, 22 are serving police members.Forty-two people are set to appear in the Pretoria Magistrate's Court on…

A South African Airways aircraft on the apron of Frankfurt Airport in 2018.

A South African Airways aircraft on the apron of Frankfurt Airport in 2018.

Silas Stein/picture alliance via Getty Images

South Africa’s National Treasury wants strict conditions attached to any guarantees it provides for loans to the country’s embattled state airline, according to two people familiar with the matter.

Treasury and Department of Public Enterprises officials met Saturday to discuss ways to restart South African Airways, the people said, asking not to be identified because the talks are private. Representatives of two South African banks attended the talks, they said.

SAA halted operations and sought bankruptcy protection in December. The carrier’s administrators say 10.5 billion rand is needed for the airline to resume operations. Finance Minister Tito Mboweni is prepared to provide guarantees on R4 to 5 billion of that amount, subject to stringent criteria, the people said.

It’s unclear where the funding would be sourced from and there’s no agreement yet on any bailout, the people said. President Cyril Ramaphosa has backed the airline’s rescue, they said.

National Treasury spokeswoman Mashudu Masutha-Rammutle and SAA spokesman Tlali Tlali referred requests for comment to the DPE, whose spokesman Sam Mkokeli didn’t immediately respond to a request for comment. The carrier’s business-rescue practitioners didn’t immediately respond to a request for comment.

Equity Partners

Treasury guarantees may encourage private lenders to provide financing to SAA, the people said. Any government funding may also help ensure a future equity-partner deal, which is currently envisaged by the end of the year, the people said.

  • READ | Mango still locked in ‘critical discussions’ with fleet maintenance group

Twenty private-sector funders, private-equity investors and partners have submitted unsolicited expressions of interest in a restructured SAA, and those are being assessed, the Department of Public Enterprises said.

Ethiopian Airlines Group is in talks with SAA about providing assistance, people familiar with the situation have said. The Addis Ababa-based carrier is seeking control, possibly in the form of a management contract, and that may be a sticking point, the people said.

 – With assistance from S’thembile Cele and Paul Vecchiatto.

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Hot Topics

City of Cape Town urges people to leave Kataza the baboon alone

Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…

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