The Gauteng High Court in Johannesburg has agreed to place Piotrans, the company that operates Johannesburg's Rea Vaya bus system, under business rescue following alleged mismanagement and maladministration that have brought it to the brink of collapse.
Jan Right/Daily Sun/Gallo Images
Piotrans, the company that operates Johannesburg's Rea Vaya bus system, was intended to be a model of what Black Economic Empowerment (BEE) could achieve, but now, its creditors allege, mismanagement and maladministration have brought it to the brink of collapse.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.