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Dear Editor On January 2, 2024, I submitted a written question to the Minister of Trade, Industry, and Competition (DTIC), Ebrahim Patel, seeking clarification on critical governance issues within Standards, Quality Assurance, Accreditation, and Metrology institutions under his jurisdiction. The questions raised pertained to the status of Chief Executive Officers (CEOs), the presence of acting …
SAA, Takatso deal collapses
Following three years of negotiation, Minister of Public Enterprises Pravin Gordhan has announced the termination of negotiations for the transaction to sell 51% of South African Airways (SAA) to the Takatso Consortium.
The collapse of the negotiations – which put an end to the sale to the equity partner – was announced during a media briefing by the Minister in Cape Town on Wednesday evening.
Gordhan explained that while three years ago, a valuation of SAA’s business and assets had been reached, circumstances have now changed – prompting a disagreement on the revised transaction structure.
Three years ago, the airline had undergone business rescue, battled through being grounded and was facing serious challenges following the COVID-19 pandemic.
“Late last year, clearly, we had a different market, we had a different economy, and we had a different flying public in terms of numbers of people that were flying and a new valuation was done.
“And the new valuation…the business came out now at a value of R1 billion and the property went up to about R5.5 billion which meant that any negotiations on this transaction would have to take into account the new valuations that have emerged,” he said.
The Minister revealed that negotiations continued “for the latter part of last year” and since this year began.
“However, we came to a point where whilst there was meeting of minds…on some of the issues, there were other issues on which there was no meeting of minds.
“So late last week, there was agreement that in terms of a clause in the old sale and purchase agreement, whereby mutual consent, this transaction could be terminated. That clause was put into action and both parties have agreed – after we enquired about the status of the negotiation – that there was no clear path forward as far as the transaction with Takatso is concerned.”
Gordhan insisted that because SAA remains a public entity:
He added that despite the collapse of the deal, the future remains bright for the airline and dismissed any notions that it will rely on government bailouts going forward.
“We are convinced, in terms of the numbers available to us, that it can sustain itself for the next year to 18 months and there are various, other ways in which immediate financing can be obtained.
“But at no stage, in the course of the months that come, will SAA get money from the fiscus. It must run its operations as efficiently as it can and as profitably as it can and sustain itself,” he said.
READ | Strategic Equity Partnership for SAA aimed at saving airline: Gordhan
Moving forward
Gordhan assured employees of the state-owned airline that their jobs are currently not in danger as a result of the collapse of the deal.
“So the message to the SAA staff…is that you don’t worry about your jobs, you don’t worry about the future of your families, that we will ensure that we work with the board and management…to continue to support the sustainability of SAA and to ensure that the corporate plan that has been developed by SAA is further strengthened,” he said.
READ | SAA officially relaunched
The Minister added that the corporate plan is well fleshed out and projects a growth in the airline.
“That corporate plan actually entails the gradual growth in the number of routes that SAA will take up in the course of the next few years. Currently, it has about 19 routes and that will grow up to 40 routes in a five year period.
“Similarly, it will have the capacity to lease more aircraft, both for domestic use, use within the continent and for inter-continental flights as well.
“All of these plans will be rigorously examined with the necessary aviation expertise to ensure that jobs are secure, that the airline is secure and that there is a future for SAA and its flag to be seen continuously within the country, within the continent and across continents as well,” Gordhan said. – SAnews.gov.za
NeoB
Thu, 03/14/2024 - 10:05
Some have not reopened since Covid lockdown
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Futuroad Expo, the premier platform for showcasing cutting-edge innovations in the truck, bus and commercial vehicle sectors, is set to take place from 19 to 21 November at the Johannesburg Expo Centre, Nasrec. Organised by Messe Frankfurt South Africa, this highly anticipated event will bring together industry leaders, innovators, and stakeholders from sub-Saharan Africa, to …
The speech below was delivered by Dr Dion George (DA Shadow Minister of Finance) in Parliament yesterday, 13 March 2024, during the debate on the 2024 Fiscal Framework and Revenue Proposals: Thank you, Chairperson Our economy grew at 0.2% in 2023. Although the ANC government celebrated this in an attempt to somehow take credit for …
Wales head coach Richard Whiffin has named his matchday 23 to face Italy at Cardiff Arms Park, for the final round match in the 2024 Under 20 men’s Six Nations championship (KO 7.30pm, S4C). There are four changes in the backs plus two positional changes. Huw Anderson moves from full-back to wing to accommodate Matty …
The Springbok Sevens coaching team has been reformatted and a review of the Sevens department’s structure is being undertaken as a response to disappointing results, SA Rugby announced on Wednesday. Head coach Sandile Ngcobo has returned to the role of coach to the next generation of sevens players, while Philip Snyman (assistant coach) has taken …
Dear Editor The announcement by the Minister of Public Enterprises, Pravin Gordhan, that the ‘dud’ SAA/Takatso deal has been cancelled was inevitable given that it was a bad deal from the beginning. Gordhan’s stubborn insistence on keeping details of the deal secret and the Takatso Consortium’s insistence for more taxpayer funds before the deal could …
Johannesburg, March — FAW Trucks SA, a force in global commercial vehicle manufacturing, proudly announces the introduction launch of the new generation JK6 FD/FT variant. This strategic introduction underscores the company’s steadfast commitment to advancing technology and performance in the commercial transport sector. With a rich history dating back to its establishment in South Africa …
The Scottish Rugby Limited Board (SRL) has appointed award-winning property investor, developer, and hotelier Chris Stewart as an Independent Non-Executive Director. Chris brings 30 years’ experience in the development and property management sector to Scottish Rugby. His group of companies – Chris Stewart Group (CSG) – has ownership and operational interests across the residential, office, …
The curtain came down on the swimming programme at the African Games in Accra, Ghana on Wednesday with South Africa’s swimmers adding eight more medals to their haul – four of them gold. Medal Tally: Gold – 17; Silver – 16 and Bronze -13. Catherine van Rensburg was back on the top of the podium …
Vossloh made R1.8-billion from a dodgy deal and has not paid back a cent
This is in addition to the hundreds of families in shacks who were relocated from the railway line in Philippi in December
Disaster teams activated in KZN municipalities amid heavy rainfall warning
Disaster teams have been activated in all KwaZulu-Natal municipalities that may be affected by heavy rainfall that could potentially lead to flooding in the north-eastern part of the province.
The KwaZulu-Natal Department of Cooperative Governance and Traditional Affairs (CoGTA) activated the teams after the South African Weather Service (SAWS) raised the alert level to orange, Level 6, the highest warning level.
The level 6 alert indicates a high probability of flooding, as a significant amount of rainfall exceeding 100mm is expected over the extreme north-eastern part of KZN.
According to the South African Weather Service, the weather poses a high likelihood of flooding of roads, bridges and settlements, major disruption of traffic flow, and disruption to essential services, including water, electricity, and communications.
The department said the areas that maybe affected include, uMhlathuze, Mtubatuba, Big Five Hlabisa, Nongoma, Jozini, uPhongolo and Umhlabuyalingana Local Municipalities.
“We have activated our disaster teams in all the municipalities that are likely to be affected to be on high alert during this period. We advise communities to seek shelter in safe places.
“Public facilities, such as community halls, are open as safe havens for those in need of shelter. Our teams may have to evacuate people should they foresee high risk of danger due to inclement weather,” the department said.
The department has also advised motorists to avoid travelling during this period, as bridges may become flooded, posing a risk to life.
On Monday, SAWS issued a warning about Moderate Tropical Storm ‘Filipo’ that is currently nearing the coast of southern Mozambique and expected to impact north-eastern areas of South Africa.
“The weak, embryonic tropical low-pressure system located between Madagascar and mainland southern Africa (Mozambique Channel) experienced significant intensification overnight, attaining a “Moderate Tropical Storm” status, which is associated with average winds of 63 to 89 km/h.
“Consequently, it has now been elevated to a “named” system, namely Moderate Tropical Storm Filipo. The storm is expected to affect mostly the southern parts of Mozambique, but some of its effects will also be felt over the extreme north-eastern parts of South Africa,” the Weather Services warned. – SAnews.gov.za
GabiK
Wed, 03/13/2024 - 10:33
Pickets outside Standard Bank will continue, says Extinction Rebellion
SA, Ghana have great potential to unlock economic opportunities
President Cyril Ramaphosa says there is great potential to unlock economic opportunities through investment-led trade initiatives aimed at increasing the trade of value-added products between South Africa and Ghana.
“We need to move beyond trade in commodities and on to the purchase of job creating agricultural goods, and advanced manufactured and value-added products,” President Ramaphosa said.
Addressing the SA-Ghana Business Forum held at the Gallagher Convention Centre in Midrand on Tuesday, President Ramaphosa said South Africa and Ghana share a long and rich history defined by the struggle for freedom.
“This history provides a firm foundation to forge closer economic ties that can spur growth and development in both countries,” President Ramaphosa said.
President Ramaphosa said South Africa is pleased to host the Business Forum to explore business opportunities that enhance bilateral economic relations.
Earlier in the day, President Ramaphosa and his Ghanaian counterpart, President Nana Akufo-Addo, reaffirmed the importance of nurturing of the existing historic relations and bonds of friendship between the two countries.
The two Heads of State emphasised that these relations are based on mutual partnership and solidarity, which date back to the struggle against apartheid and colonialism.
President Akufo-Addo is in South Africa on a working visit at the invitation of President Ramaphosa to co-chair the 2nd Session of the Bi-National Commission (BNC) between the two countries.
Tuesday’s BNC, which was held at the Department of International Relations offices in Pretoria, was preceded by a ministerial meeting on Monday,11 March. Meanwhile, a senior officials meeting was held on Friday, 8 March.
At the Business Forum, President Ramaphosa said Africa has been at the lower-end of global value chains.
"We have abundant natural resources, but limited productive capability to process them for higher value capture.
“However, the need for a global transition to a low-carbon future offers the continent new opportunities to upgrade and diversify into technology-intensive global value chains. Our two countries are in a strategic position to benefit from the rapid growth of key clean energy manufacturing industries.
“Most of the minerals critical for the manufacturing of clean energy technologies, such as battery storage and electric vehicles, are held in Africa,” President Ramaphosa said.
President Ramaphosa said there is a need to improve manufacturing capacity and scale up production and export through the building of domestic and regional linkages and value chains.
READ | SA, Ghana explore ways to expand trade and investment
“It is important to explore practical cooperation between key players in industry to foster effective and mutually beneficial collaboration between our countries to promote green industrialisation.
“This will help to build on the strong trade and investment links between our economies. South Africa is already the largest purchaser of Ghanaian exports in Africa, and the third largest importer of Ghana’s products globally,” the President said.
President Ramaphosa emphasised the need to move beyond trade in commodities and on to the purchase of job-creating agricultural goods, advanced manufactured and value-added products.
“The importance of Ghana to South Africa as an anchor partner country within West Africa is affirmed by the many South African trade missions to explore business opportunities in the form of investment-led trade,” he said.
The relationship between the Republic of South Africa and the Republic of Ghana has grown exponentially over the years.
Cooperation between the two countries has been elevated from a Permanent Joint Commission for Cooperation (PJCC) that is held at a Ministerial level to a Bi-National Commission, presided over by the two Heads of State and Government.
The Business Forum brought together companies and entrepreneurs from South Africa and Ghana with the aim of deepening trade and mutual investment and leveraging the opportunities created within the African Continental Free Trade Area.
Expanded trade and investment will stimulate growth and job creation in both countries and facilitate closer people-to-people interaction between the two nations. – SAnews.gov.za
Edwin
Wed, 03/13/2024 - 10:41
Construction of new Western Cape police station on track
It is all systems go in the construction of more police stations in areas experiencing high crime volumes in the Western Cape.
The Ministry of Police says it is encouraged by the progress made by contractors who are currently building two police stations which are set to bolster policing and increase the footprint of the police in communities grappling with violent crime and gangsterism in Cape Town.
On Tuesday, the management of the South African Police Service (SAPS) and the Ministry of Police led by Minister General Bheki Cele, conducted monitoring and evaluation visits to the Makhaza and Tafelsig police stations which are currently under construction.
Progress is being made in the clearing of the site earmarked for the construction of the Tafelsig station which will bring police services closer to residents of Michelle’s Plain.
While there have been some delays in the commencement of construction at the Tafelsig police station due to the community’s demands to form part of the construction project, this has been resolved and contractors have agreed to source labour from the local community.
Meanwhile, the Ministry has welcomed the quick turn-around time in the building of the Makhaza police station which is now 97% complete. Upon completion, the station will better service the community of Khayelitsha.
“It has taken six months to complete the Makhaza police station and this is commendable and encourages us to do more to ensure policing services are not a ‘nice to have’ but are accessible to all.”
“We have been assured by contractors that the outstanding electricity and water connections on the site will be completed with[in] the coming weeks and the station can fully operate and service the community,” he said.
The Tafelsig and Makhaza stations alongside stations in Browns Farm and in Samora Machel, also in the Cape Flats of the Cape Town metropole, are expected to be completed and service communities by 2026. – SAnews.gov.za
Edwin
Wed, 03/13/2024 - 10:59
Port Alfred – With only two weeks to go before the PORT ALFRED EASTER FESTIVALkicks off, there is much excitement in the air. The entries are open for the Rip Curl GromSearch and the Rip Curl Cup, the Bands At The Beach Music Fest is good to go, and the Good Time Fair On The …
Parliamentary Committee welcomes IEC’s swift action in leaked candidate lists matter
The chairperson of Parliament’s Portfolio Committee on Home Affairs, Mosa Chabane, has welcomed the swift action by the Electoral Commission of South Africa (IEC) in investigating the leaking of candidate lists.
The implicated staff member has since been fired.
READ | Electoral Commission terminates employment of employee
Chabane stressed that the integrity of the electoral process must be protected, and that the swift investigation and decision to terminate the employee’s contract demonstrates the integrity of the institution.
“We remain of the view that the IEC is a credible institution to run a free and fair process and that anything that endangers this process will be quickly investigated and concomitant action taken,” Chabane said.
Beyond contravening the Protection of Personal Information Act, the unauthorised circulation of the lists undermined the clearly set out election timetable and processes of the 2024 provincial and national elections.
Meanwhile, the chairperson has called on the IEC to strengthen its internal controls and to imprint on its staff members the need to conduct themselves ethically to protect the institution’s integrity.
Despite the leak, Chabane said the IEC’s processes remain credible and that it has a proven track record of delivering on its mandate and promoting South Africa’s democratic order.
The committee will receive an update on the investigation that is still ongoing and the processes in place for the elections. – SAnews.gov.za
Edwin
Wed, 03/13/2024 - 11:10
March 2024, Durban, KwaZulu-Natal – Created to embody a community market experience, The Barn on The Square (THE BARN) includes an eclectic selection of artisanal homeware, art, beauty, fashion, food and beverage outlets, alongside quality restaurants and niche concept eateries, all housed in an iconic barn-shaped structure. THE BARN is the spatial heart of the …
Inspection blitz nabs non-compliant employers
The Department of Employment and Labour, working with other law enforcement agencies, have issued over 50 contravention notices and compliance orders against non-compliant employers in Rustenburg in the North West.
Nine undocumented foreign nationals were also arrested during a joint blitz inspection by the department and other law enforcement agencies.
The three-day blitz inspection that started in Rustenburg on Monday was led by the Inspection and Enforcement Services unit of the Department of Employment and Labour in the North West in partnership with the Department of Home Affairs, the Liquor Board and the South African Police Services (SAPS).
“The first blitz inspection has led to 18 contravention notices, three prohibition notices, three improvement notices, and 31 compliance orders being issued to non-complying employers and to the arrest of nine undocumented foreign national workers,” the department said in a statement.
The inspections are part of an ongoing national programme by the department with the aim to gather all relevant law-enforcing government institutions to conduct inspections around major towns and cities in the country.
Its main purpose is to test the level of compliance in terms of the labour laws such as the Occupational Health and Safety Act (OHS), Compensation of Occupational Injuries and Diseases (COIDA), Basic Conditions of Employment Act (BCEA), Unemployment Insurance Act (UIA), Unemployment Insurance Contribution Act (UICA) and the Employment Act.
It also focuses on other consumer-related legislations in the wholesale and retail sector and the employment of undocumented foreign nationals.
According to the provincial chief inspector for the North West Province, Chris Sithole, the blitz inspections are unannounced visits.
“We (were) in the Bojanala District on an unannounced visit, and… on day one we managed to issue so many notices and orders to non-complying employers … we are not here to intimidate anyone; we are here to ensure that labour laws are upheld as it is our mandate to ensure that the country’s workforce is protected,” Sithole said.
The department said the undocumented foreign nationals who are working without the relevant work permits will be handled by the Department of Home Affairs and the SAPS.
“The employer will also be charged accordingly for contravening the Employment Services Act of the Department of Employment and Labour, which demands an employer to make sure that a person employed in South Africa from a foreign country should have the relevant work permit and a certain skill that is not found in the country,” the department said. – SAnews.gov.za
DikelediM
Wed, 03/13/2024 - 11:16
Marchers demand an 8% increase