CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
Comair, which operates the British Airways franchise in South Africa and budget airline Kulula.com, will be approaching lenders for additional funding of more than R1 billion required for it to fly again following a successful adoption of the business rescue plan.
SAA workers have called on the government to make good on its promise to provide funding of R10.5billion to prevent the liquidation of the state-owned airline as its future remains in limbo.
The Transnet National Ports Authority (TNPA) and liquefied petroleum gas (LPG) importer Sunrise Energy ganged up on competing LPG importer Avedia Energy, making it virtually impossible for it to operate at the Port of Saldanha, a tribunal has found.
The South African currency withdrew on Friday after hitting its best level in six months against the USD last week, following the central bank’s decision to leave interest rates unchanged on Thursday according to NKC Research.
Telkom has overtaken troubled Cell C to become South Africa’s third-largest mobile operator on the strong growth of its mobile business following the surge in demand for data services driven by the national lockdown.
Players in the Black-owned businesses space in South Africa, on top of the tremendous challenges they have faced since the start of the Covid-19 pandemic have revealed that many businesses associated with their organisations have been forced to shut down, leaving scores of workers unemployed despite the National Treasury and South African Reserve Bank (SARB) providing R200 billion in relief funds to banks to support them.
The Ports Regulator of SA Tribunal expressed grave concern about the stance adopted by the Transnet National Ports Authority (TNPA) at the Port of Saldanha in that it appeared to have reduced itself to a miniscule player that would readily mulct itself in the dust of a competitive arena.
BUSINESS REPORT ONLINE