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PRASA New Rolling Stock Acquisition Programme, South Africa – update

By: Sheila Barradas     9th July 2021 Gibela is behind schedule in the delivery of the new trains to the Passenger Rail Agency of South Africa. 

Slight improvements in SOE audits are no reason to celebrate, new AG Tsakani Maluleke warns

By: News24Wire      31st March 2021 Auditor General Tsakani Maluleke said while there were marginal improvements in the audit outcomes of national and provincial government departments as well as their entities, the improvement were not nearly enough to reverse the negative financial trend many auditees have been tracking for... 

SAA Technical management hoping to pay 50% of March salaries, leaked letter shows  

By: News24Wire      19th March 2021 Management at SAA Technical is continuing with efforts to try to pay employees at least 50% of their salaries due for March, but at this stage, is still waiting for details of "anticipated funding" from its shareholder, the Department of Public Enterprises. This is according to a letter to SAAT... 

Denel braces for more losses, denies 'trading recklessly'

By: Reuters     10th March 2021 South Africa's State weapons manufacturer Denel expects to make further losses in its current financial year, it said in a presentation on Wednesday as its acting chair denied the company was trading "recklessly" at a hearing by lawmakers. Denel makes military equipment for South Africa's armed... 

Denel is in a deep crisis, parliamentary committee told 

By: Rebecca Campbell     19th February 2021 Parliament’s Select Committee on Public Enterprises and Communication has been briefed by Public Enterprises Deputy Minister Phumulo Masualle and Denel acting CEO Talib Sadik about the State-owned defence industrial group’s financial and legal problems. They told the parliamentarians that Denel... 

Denel increasing its focus on exports 

By: Rebecca Campbell     1st February 2021 During the 2019/2020 financial year, exports accounted for 42% of Denel’s business, with Asia being the single biggest export market, taking 24% of the South African State-owned defence industrial group’s business. Perhaps surprisingly, Europe and North America came in joint second place, with 5%... 

South Africa’s widening budget gap may drive up tax targets

By: Bloomberg     22nd January 2021 South Africa may be forced to revise its tax increase targets as its budget shortfall is set to breach wartime levels for a second consecutive year. The budget deficit will reach 11% of gross domestic product in the fiscal year through March 2022, according to the median estimate of 13 economists... 

Numsa blasts DPE, SAA, over 'misleading' workers, warns against 'unlawful' actions

By: Rebecca Campbell     11th December 2020 The National Union of Metalworkers of South Africa (Numsa) has attacked the Department of Public Enterprises (DPE) concerning its behaviour regarding maintenance and repair organisation South African Airways Technical (SAAT), a subsidiary of the State-owned national airline South African Airways... 

Solidarity court case against Denel postponed

By: Rebecca Campbell     3rd December 2020 Trade union Solidarity on Thursday expressed regret that the contempt of court case it had brought against State-owned defence industrial group Denel had been postponed until January 27. The court ruled that the Denel board had to be given time to respond to the affidavit presented by the union.... 

Mboweni agrees to SAA's R10.5bn bailout; no funds for SABC, Post Office and Denel 

By: News24Wire      28th October 2020 South African Airways will get the R10.5-billion it has requested from government to fund its business rescue process. The monies will be made available from reductions from national departments and their entities as well as reductions from local and provincial conditional grants, according to... 

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