South African government welcomes conclusion of purchase and sales agreement for national-carrier
South Africa’s cabinet has welcomed the conclusion of the sales and purchase agreement for South African Airways (SAA) by the Department of Public Enterprises and Takatso Consortium.
The cabinet said in a statement indicated that the next step in the deal to sell 51% of the government’s stake in SAA was left to regulatory bodies to approve.
The department announced the decision to get an equity partner for SAA last year.
Read: Rice Millers reject reduction in benchmark value
The airline would not be getting any further bailouts, and Takatso Consortium’s takeover of a portion of SAA was seen as a move to help rescue the struggling airline. Cabinet also discussed other matters at its meeting this week.
The government welcomed the 2022 Budget Speech delivered by Finance Minister Enoch Godongwana on Wednesday.
Cabinet said the latest budget signalled the government’s commitment to fiscal discipline.
