Cash strapped SAA has funds locked up in other African countries

According to EWN parliamentary correspondent Gaye Davis, Deputy Finance Minister Sfiso Buthelezi told Parliament that he recently discovered SAA is estimated to have just over R1 billion locked up in countries like Senegal, Nigeria, Angola and Zimbabwe that it cannot repatriate.

He says that has a negative impact on SAA's cash flow.

Buthelezi was giving a presentation in Parliament on the financial state of SAA.

He says a team from Treasury and SAA are working on a plan to unlock and get this money back.

Gaye Davis, EWN parliamentary reporter

We also heard that SAA has been making efforts in terms of its turn-around strategy and cutting costs but is still making losses.

Gaye Davis, EWN parliamentary reporter

To listen to the full report from Gaye Davis, click below:


Recommended

by NEWSROOM AI
Read More
SA cabin crew back at work, will appeal court interdict

SA cabin crew back at work, will appeal court interdict

South African Airways (SAA) was granted an interdict by the Labour Court ordering the workers to return to their posts.

Lack of coherent management at play in SAA cabin crew strike - Guy Leitch

Lack of coherent management at play in SAA cabin crew strike - Guy Leitch

Employees affiliated to the South African Cabin Crew Association (Sacca) are demanding a $170 (R2,222.80) a day meal allowance.

 SAA granted interdict against striking cabin crew

SAA granted interdict against striking cabin crew

The striking cabin crew last received an increase in meal allowance in 2011.

Cabin crew stuck with same meal allowance from 2011, says ex flight attendant

Cabin crew stuck with same meal allowance from 2011, says ex flight attendant

A former flight attendant puts the demands by striking SAA cabin crew, over an increased meal allowance, into perspective.

Striking SAA cabin crew demand to speak with Dudu Myeni

Striking SAA cabin crew demand to speak with Dudu Myeni

According to Deputy president of the SA cabin crew Association, all SAA flights will be affected by the strike.

Cabin crew members compare themselves with pilots - SAA

Cabin crew members compare themselves with pilots - SAA

South African Airways (SAA) says four flights have been cancelled, and two delayed due to the strike by cabin crew members.

SAA's cabin crew embark on strike action

SAA's cabin crew embark on strike action

The cabin crew is demanding that their international meal allowance be increased from $131 to $170.

Meet award-winning marketing guru (of 25 years!) Groovin Nchabeleng

Meet award-winning marketing guru (of 25 years!) Groovin Nchabeleng

Nchabeleng is the Executive Chair of black-owned Blueprint Group and former CEO of MMS Group, a division of Publicis Worldwide.

Popular articles
'Let’s tax this thing and make money out of it!'

'Let’s tax this thing and make money out of it!'

The Money Show's Bruce Whitfield interviews Jeremy Berke (Business Insider) and Unathi Henama (Tshwane University of Technology).

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Concourt ruling on cannabis needs to filter down to cops, says dagga couple

Myrtle Clark and Julian Stobbs, dubbed the dagga couple, have been trying for years to have dagga legalised.

ConCourt rules dagga legal for private use, but what is private?

ConCourt rules dagga legal for private use, but what is private?

Associate Professor of Law at Wits University James Grant says the ConCourt did not define what private use was.

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

'What took big banks so long to shut Gupta accounts?', Pieter-Louis Myburgh asks

Journo Pieter-Louis Myburgh says other banking execs need to be questioned about their potential complicitness in the Gupta saga.

Cape Town dams on 70% for the first time since 2015

Cape Town dams on 70% for the first time since 2015

Cape Town's dam levels have hit the 70% mark but experts say Capetonians still have to be cautious in their water consumption.

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

[WATCH] Dad stops baby from crying, Emmy acceptance speech turns into proposal

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Eusebius: 'You are a political coward'

Eusebius: 'You are a political coward'

Eusebius McKaiser, wearing his political anlayst hat, gives unsolicited advice to Mmusi Maimane.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.