for subscribers

SAA bailout: Mboweni cuts municipal budgets, shifts money from govt departments

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by Covid-19. (Gallo Images/Brenton Geach)
South Africa’s finance minister Tito Mboweni says the IMF loan will limit the country’s economic vulnerabilities which have been exacerbated by Covid-19. (Gallo Images/Brenton Geach)

The story: Grants for municipal programmes have been cut by more than R200 million to bankroll a rescue plan for the beleaguered South African Airways (SAA).

Bailout: SAA will get the R10.5 billion it needs to fund its business rescue plan.

A closer look: The money for the troubled state airline has been made available through reductions from national departments and entities, conditional grants for provinces and local government. 

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Lockdown For
DAYS
HRS
MINS
Voting Booth
When assisting your child with remote learning this year, did you:
Please select an option Oops! Something went wrong, please try again later.
Results
Follow the school's comprehensive sexuality education (CSE) curriculum?
13% - 267 votes
Adjust the CSE curriculum to suit the family's morals?
24% - 477 votes
Ignore the schools CSE programme and do your own teaching?
63% - 1283 votes
Vote
ZAR/USD
15.24
(+1.23)
ZAR/GBP
20.47
(+0.55)
ZAR/EUR
18.37
(+0.30)
ZAR/AUD
11.22
(+1.13)
ZAR/JPY
0.15
(+1.26)
Gold
1815.27
(+2.07)
Silver
23.96
(+5.89)
Platinum
999.00
(+3.51)
Brent Crude
47.66
(-0.77)
Palladium
2409.00
(+2.60)
All Share
57509.72
(+0.73)
Top 40
52764.09
(+0.74)
Financial 15
11238.33
(+0.71)
Industrial 25
79067.55
(+0.13)
Resource 10
53562.00
(+1.63)
All JSE data delayed by at least 15 minutes morningstar logo