{"id":6566,"date":"2021-03-17T20:40:58","date_gmt":"2021-03-17T20:40:58","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=6566"},"modified":"2021-03-17T18:01:10","modified_gmt":"2021-03-17T18:01:10","slug":"announcement-of-saa-equity-partner-imminent","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/announcement-of-saa-equity-partner-imminent","title":{"rendered":"Announcement of SAA equity partner imminent"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>Cape Town – Deputy Minister for Public Enterprises Phumulo Masualle says the announcement of a strategic partner for SAA will be announced in due course.<\/p>\n

Responding to questions in the NCOP, Masualle said the process to acquire a strategic partner was well underway and that they were hoping to conclude it soon.<\/p>\n

\u201cIn a month\u2019s time, that matter should be concluded and an announcement will be made in respect of the equity partner,\u201d he said and added: \u201cIt is a matter whose announcement is imminent.\u201d<\/p>\n

Asked if more money would be pumped into SAA, the deputy minister said the restructuring of the entity and its repositioning was a matter that would entail some financing.<\/p>\n

\u201cIt is part of the rescue plan considering all those plans. It is only that articulated in the rescue plan that will be up for funding going forward.\u201d<\/p>\n

Masualle also said his department was concerned with delays in the revival of SAA as an airline that has been under business for over a year with no resolution.<\/p>\n

He said the business rescue practitioners were governed by the Company\u2019s Act and the department have no control over the affairs they are seized with.<\/p>\n

Masualle also said the department was doing as much to make sure all state-owned entities under its wing were functioning optimally and that the employees were not negatively affected.<\/p>\n

The deputy minister said there were specific interventions for the troubled Denel, Eskom and Alexcor.<\/p>\n

\u201cWe also note the incidents that have given rise to the problem of malfeasance and corruption,\u201d he said, adding that matter shave been referred for criminal investigation and also look to recover monies where possible.<\/p>\n

\u201cThere measures that are in place to ensure the situation in state-owned companies is what is expected of them,\u201d Masualle said.<\/p>\n

Meanwhile, the Minister highlighted that Eskom was undergoing a functional unbundling phase that would be completed in March 2021 and the creation of a transmission company by the end of December.<\/p>\n

The legal unbundling of generation and distribution would be completed in December 2022.<\/p>\n

He told the NCO delegates that Eskom had launched three divisions with boards and managing directors.<\/p>\n

Masualle also said the ministers of finance and public enterprises had already approved the initial report on the due diligence of a corporate and transmission company.<\/p>\n

There was an intergovernmental relations committee to address risks and that turn around strategy has developed to address challenges facing Eskom.<\/p>\n

Asked about the causes of the sporadic load shedding facing the country, Masualle said Eskom was addressing the persistent load shedding.<\/p>\n

\u201cThis current stage 2 load shedding is caused by breakdowns at various power stations.\u201d<\/p>\n

He said there was a strategy to ensure increased maintenance on some operating units that have not been over a period of time.<\/p>\n

Some of the plants that are due for maintenance should be taken out, Masualle said.<\/p>\n

He also said the Department of Mineral Energy was accelerating the acquisition of independent power producers to close the capacity gap.<\/p>\n

\u201cThese are measures the department is giving to Eskom to mitigate the current situation,\u201d Masualle said.<\/p>\n

[email protected]<\/p>\n

Political Bureau<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Cape Town – Deputy Minister for Public Enterprises Phumulo Masualle says the announcement of a strategic partner for SAA will be announced in due course. Responding to questions in the NCOP, Masualle said the process to acquire a strategic partner was well underway and that they were hoping to conclude it soon. […]<\/p>\n","protected":false},"author":84,"featured_media":6565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[274,315,275],"class_list":["post-6566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nAnnouncement of SAA equity partner imminent - South Africa<\/title>\n<meta name=\"description\" content=\"Cape Town - Deputy Minister for Public Enterprises Phumulo Masualle says the announcement of a strategic partner for SAA ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/announcement-of-saa-equity-partner-imminent\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Announcement of SAA equity partner imminent\" \/>\n<meta property=\"og:description\" content=\"Cape Town - 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