Business In The News South Africa

DA fails to find support for claim that SAA’s R3 billion lifeline was illegal

PARLIAMENT, October 5 – The Democratic Alliance’s objection that last week’s R.3 billion bailout to South African Airways was illegal seems unlikely to go far after Parliament’s standing committee on finance received a legal opinion Thursday suggesting there was not a clear case to be made for this. Parliamentary legal advisor Frank Jenkins told the […]

In The News South Africa

Hanekom faces ANC chop

JOHANNESBURG, August 21 – The African National Congress (ANC) has moved to “protect its integrity and reputation” by asking Derek Hanekom, the chairperson of the party’s National Disciplinary Committee (NDC), to give reasons – with in 10 days – why he must not be removed from his post.   Hanekom, who was fired as tourism minister after […]

In The News South Africa

Gigaba warns of wider consequences of an SAA default

 PARLIAMENT, August 5 – Finance Minister Malusi Gigaba on Friday voiced frustration at the slow pace at which South African Airways (SAA) was taking steps to stem its financial losses and warned that defaulting on its debt payments could trigger a wider reaction from state-owned entities’ lenders. Gigaba said one example was the fact that the technically-bankrupt […]

Lead Opinion

Set Madiba’s legacy straight

Carl Niehaus   “Madiba was a principled realist and pragmatist – but he was never a sell-out… “The racist regime was badly weakened by the heroic onslaught of the people against them, but the enemy was not defeated. If they were defeated we would not have had to negotiate with them.”   Two political trends […]