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Govt has not committed to SAA funding requirements - Mboweni

In court papers, Finance Minister Tito Mboweni said that government was considering a number of options to 'mobilise' funding, including approaching institutions for the investment of pension funds.

Finance Minister Tito Mboweni. Picture: GCIS

JOHANNESBURG - Finance Minister Tito Mboweni said that the government had not committed to the funding requirements outlined in the South African Airways (SAA) business rescue plan.

In court papers, Mboweni said that government was considering a number of options to "mobilise" funding, including approaching institutions for the investment of pension funds.

The minister said that other funding options included private equity partners or strategic partners acquiring shareholding in a restructured SAA.

The business rescue practitioners have warned that their plan for a reimagined airline would need R10 billion at the very least.

Critics are outraged at government's pledge to mobilise funding, with concerns that the taxpayer will, once again, end up footing the bill with little return on investment.

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