Administrators for South Africa’s loss-making state airline have defended their decision to cut routes as part of a turnaround plan, after objections from President Cyril Ramaphosa, government and labour unions.
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Proposals to reorganise the R454-billion owed by Eskom are days away from completion, according to an official who’s overseen their formulation.
The bold proposal by Cosatu to relieve Eskom of close to 60% of its debt using pension money may be presented by President Cyril Ramaphosa in next week’s state of the nation address.
President Cyril Ramaphosa defended his track record on reform and said policy measures being implemented by the government will yield stronger economic growth in time.
Less than a month into 2020, South African companies have already announced thousands of job cuts. In a country where a third of the labour force is already unemployed, this will put even more strain on economic growth.
Communications minister Stella Ndabeni-Abrahams has slammed a Sunday Independent report, in which she is accused of misusing taxpayers’ money, describing the article as a “malicious smear campaign”.
A report on Sunday said communications minister Stella Ndabeni-Abrahams allegedly used taxpayers’ money to to pay for her seventh wedding anniversary celebrations.
The ANC’s top decision makers have met to discuss how to deal with ailing state-owned companies whose deteriorating finances have emboldened critics of President Cyril Ramaphosa.
Eskom has admitted it has a solution to its highly unreliable ageing fleet of coal power stations. This time, however, the plan is not the clichéd definition of insanity (which seems to have been the plan over much of the last decade).
The chairman of Eskom resigned from his post after the power utility resumed rolling blackouts earlier than expected in 2020.