South Africa is seeking to raise as much as R4bn from the sale of part of its 39% stake in Telkom to raise funds for the country’s unprofitable state airline and post office, according to two people familiar with the
Finance minister Malusi Gigaba said on Wednesday that government will sell a “portion” of its 39.3% stake in Telkom to ensure the fiscal expenditure ceiling is not breached. “We have decided to dispose of
Telkom on Thursday withdrew a cautionary announcement it had issued in late August over speculation that government could sell its 39.3% stake in the company to bail out South African Airways. The telecommunications operator’s
National treasury is pressuring the continent’s biggest money manager to provide as much as R100bn to fund struggling state companies, according to two people with knowledge of the situation. The Public Investment Corp, which
After reports emerged in recent days that Vodacom Business chief officer Vuyani Jarana may not yet have signed an employment contract to take over as CEO of South African Airways, the mobile operator has made
Telkom on Wednesday cautioned shareholders that a possible plan by government to offload some or all of its 39.3% stake in the telecommunications operator could hit its share price. “Shareholders
The revelation on Wednesday that finance minister Malusi Gigaba is considering selling a big chunk or possibly even all of government’s 39.3% in Telkom, at face value, is fantastic news. There is absolutely no reason for government
Vuyani Jarana is leaving Vodacom to take the reins at troubled state-owned airline South African Airways. Jarana, who has headed Vodacom enterprise business since 2012, will take the helm at the national carrier
South African Airways has identified Vodacom Group executive Vuyani Jarana as the leading candidate to become the struggling state-owned carrier’s first permanent CEO since November 2015, according to three people familiar with
The head of economic transformation in the ANC has backed finance minister Pravin Gordhan, saying charges relating to setting up an illicit tax surveillance unit are “concocted” and politically motivated