Wednesday, 21 July 2021
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JOHANNESBURG - Finance Minister, Tito Mboweni says the intention behind his latest tweet on South African Airways (SAA) is to get Cabinet to speed up the process of a new airline. The minister was speaking during an interview with Bloomberg. Mboweni has questioned whether the country needs the national carrier. This comes less than a month after agreeing to find the cash for a R10-billion bailout. Mboweni suggests creating an airline partly owned by government as well as the private sector. "And we should move with speed, " he said. "We should create an airline that is privately and publicly, owned, issue the number of shares and let people subscribe. " He's told Bloomberg that a restructured airline with equity partners must be concluded soon. Mboweni has also flagged a potential sovereign debt crisis in the country. His remarks to Bloomberg come after the South African Reserve Bank (SARB) warned that the country's stability is at risk if government's consolidation efforts are unsuccessful.

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