Treasury to take control of SAA

By admin
11 December 2014

National Treasury is to assume control of South African Airways, Minister in the Presidency Jeff Radebe announced on Thursday.

"SAA will be transferred from the department of public enterprises to fall under National Treasury," he told a media briefing in Pretoria, following Cabinet's fortnightly meeting the day before.

He said Cabinet was concerned about the performance of some state-owned companies, in particular SAA, the SA Post Office, and power utility Eskom, each of which had a critical role to play within the country's economy.

"President [Jacob Zuma] has assigned Deputy President Cyril Ramaphosa to oversee the turnaround of [these] three state-owned companies," Radebe said, adding that progress in this regard would be closely monitored by the presidency.

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