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South African Airways said “time is of the essence” for the government to provide a pledged cash injection if the loss-making national carrier is to continue flying.
Eskom and South Africa’s National Treasury are in talks with banks to renew a R15bn government-guaranteed loan facility that the indebted state power utility announced in February last year.
Power shortages cost South Africa as much as R118bn last year, a drain on the economy that’s set to continue for two to three years unless urgent action is taken, a new study has found.
South African Airways cut 38 local and international flights this week, an indication of a possible downsizing of the cash-strapped national carrier to avoid total collapse.
Seasoned business journalist and fierce Eskom critic Sikonathi Mantshantsha has stepped over to “improve Eskom’s image”.
SA’s inflation rate has now been at or below the 4.5% midpoint of the target range for 13 months, the longest such streak in 14 years.
Less than a month into 2020, South African companies have already announced thousands of job cuts.
Naspers expects second-hand clothing sales online to pick up as companies around the world look to cut production of new goods to help address climate change.
Statistics SA will overhaul economic output data and revise the weights of the various sectors that are used to calculate gross domestic product.
The financial crisis at South African Airways deepened Tuesday with one of the nation’s largest travel agencies announcing that the airline had cancelled several domestic and international flights.