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Strategic Equity Partner for SAA on Track

May 26, 2021

Department of Public Enterprises

The acquisition of a Strategic Equity Partner for South African Airways (SAA) is at an advanced stage and could be concluded in the next 4-6 weeks.

The public enterprises minister, Pravin Gordhan, announced this in the public enterprises 2021/22 Budget Vote Speech.

The minister confirmed that the SAA business rescue process ended on 30 April 2021.

Describing the business rescue as a “difficult process”, the minister declared that government’s objectives of a “viable airline, not dependent on the fiscus, with the agility to cope with uncertain times” remain on track.

The minister added that decisions on the future of the subsidiaries will also be made in the next month.

Other developments highlighted include:

• Aerospace and Defence Masterplan, published in December 2020, to be tabled in Cabinet shortly;
• Eskom restructuring – process to be concluded by 30 June 2021 – legal separation of the Transmission Company to be completed by 31 December 2021, while also working towards legal separation of the Distribution and Generation Companies with Eskom Holdings by 31 December 2022;
• Transnet – transformation and reconfiguration underway to meet the mandate outlined in South Africa’s Economic Reconstruction and Recovery Plan;
• Medupi power station almost complete – last unit ready for commissioning by July 2021;
• Kusile’s Units 2 and 3 have been brought into commercial operation in October 2020 and March 2021 respectively.