The new rules are an improvement, but proper implementation is vital, writes Murray Hunter and Cherese Thakur.
Partly cloudy. Mild.
Mkhuleko Hlengwa has said it would be "reckless and irresponsible" to provide Eskom with financial assistance using government employees' pension funds, and that SAA should eventually be privatised.
Bailouts for state-owned companies risk pushing the country’s debt-to-GDP ratio to among the highest in emerging markets, South African Reserve Bank Governor Lesetja Kganyago has warned.
Eskom’s dire need to attract support for its recent indication of a R100bn state bailout requires greater transparency and explanation of its business plan, says Wayne Duvenage.
Greece is about to exit its bailout, a symbolic move past the debt crisis that exploded eight years ago and transformed the country’s economy and the lives of its people.
Government won’t bail out 13 municipalities that lost about R1.65bn they invested in VBS Mutual Bank before it collapsed in March, says Minister Zweli Mkhize.
Government will have to borrow R191bn in 2018/19, despite adjusting its debt management strategy during the last year to fund a large revenue shortfall.
Judgment on the Bankorp-CIEX report has been reserved and the court will endeavour to deliver judgment early 2018.
Public Protector Busisiwe Mkhwebane’s legal counsel has argued that the SARB has launched a personal attack on her integrity which could cost Mkhwebane her job.
Instead of granting ABSA its request for a meeting, the Public Protector chose to meet with other parties - including ABSA’s adversary BLF - before finalising the Bankorp-CIEX report.
A court will review the Public Protector’s report on apartheid bailout money for Bankorp which was bought by ABSA, to determine if there are still monies outstanding to the Reserve Bank.
Funds should be prioritised for public transportation, among other key interventions, says John Kane-Berman.
Public Enterprises Minister Pravin Gordhan has said the fiscus does not have room for "endless bailouts".
No wonder there's resentment over SOE bailouts when ordinary people bear the brunt of healthcare that relies on the contents of bank accounts, says Terry Bell.
National Treasury denied that the government has approved a bailout package of R59bn for state-owned companies.
South African Airways says executives will meet Treasury officials every two weeks to address urgent funding needs after the ailing carrier reported a 7th consecutive year of losses - and the worst since 2015.
This week the court heard how the Public Protector failed to “apply her mind” during the Bankorp-CIEX probe and possibly breached the Constitution. Fin24 wraps up the top 10 quotes heard in the case.
The Public Protector’s counsel has argued that the lifeboat extended by the SARB to Bankorp, which was facing insolvency during the apartheid era, was unlawful.
Public Protector Busisiwe Mkhwebane’s conduct during the litigation process of the Bankorp-CIEX report was disrespectful to the law and the courts, the SARB’s counsel has argued.
The court review of the Bankorp-CIEX report started with non-profit company Open Secrets presenting its case to be admitted as a friend of the court.
From now on, the CEO of SAA would actually be allowed to run the place, said Finance Minister Malusi Gigaba and new board chair Johannes Bhekumuzi “JB” Magwaza at this week’s “unveiling” of the airline’s new board.
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