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SAA considers selling off assets as debt balloons
SAA is considering selling off assets after banks have refused to lend it any more money – and its debt ballooned to R15bn more than its assets at the end of July.
A senior SAA executive told City Press this week that the airline’s finances are in tatters and the Auditor-General has raised serious concerns about its viability.
SAA, which is technically bankrupt, will therefore not present its 2017/18 financials to Parliament by the end of this month, as required by law.
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NDZ back Cyril with breakthrough meeting between business, presidency
Nkosazana Dlamini-Zuma is emerging as one of President Cyril Ramaphosa’s key ministers after she helped engineer a breakthrough meeting between the presidency and 60 chief executives of some of South Africa’s major corporations at the Union Buildings on Friday.
The meeting followed Ramaphosa’s announcement earlier that day outlining his government’s plans to revitalise the economy. The meeting was the fourth of its kind held over the past month and involved Dlamini-Zuma, Economic Development Minister Ebrahim Patel, various senior government officials, and captains of industry and commerce.
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Radio station's DJs warned not to talk about VBS
A concerned Phalaphala FM radio DJ says things are tense at the station after staff were allegedly barred from speaking about VBS Mutual Bank, Vhavenda King Toni Mphephu Ramabulana and the Vhembe District Municipality in Limpopo.
“It seems we are captured. This is making our lives at work difficult, especially for the DJs and producers – we are living in fear,” said the DJ, who did not want to be identified.
The DJ blames certain members of the station’s management team, and alleges that they had business interests with the bank, the king and the municipality.
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Mondli Makhanya: Guptas also stole our dignity
Speaking to the SA National Editors’ Forum in May, President Cyril Ramaphosa said that, prior to the #GuptaLeaks, the state capture phenomenon “looked like isolated incidents … at Eskom and elsewhere”.
So the president thought that it was an “isolated incident” when the Guptas tried to steal the lucrative Sishen mine in the most brazen heist back in 2011? What did he make of Fikile Mbalula’s emotional declaration in an ANC national executive committee meeting – of which Ramaphosa was a member – that he had learnt of his Cabinet appointment from the Guptas? What did he make of the well-orchestrated 2013 landing of the Gupta wedding party at Air Force Base Waterkloof and the family and their guests being escorted to Sun City by a large official security convoy? What of the regular televised breakfasts where the Guptas, using state money, hijacked a prime slot on the national broadcaster and laughed all the way to the bank?
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