Zuma vows government will continue supporting embattled SAA

The government will continue supporting South African Airways (SAA) as the airline rebuilds itself, President Jacob Zuma said on Saturday.

“We will support SAA on its path towards renewal,” said Zuma who was speaking at the launch of the KZN Invest SA One Stop Shop in Durban.

“The medium term budget policy statement has already indicated that some institutions – that have also been draining government resources – such as some state-owned enterprises are required to achieve a turn-around,” said Zuma.

He said some of government’s key milestones include the “recapitalisation of SAA”.

SAA has been reportedly given an amount of R5.2-billion in bailouts this year. Former SAA board chairperson Dudu Myeni and six board members were sacked from the board last month.

Zuma said it was also crucial to support institutions that were doing well.

“Also important is the need to continue supporting our institutions that strengthen our democracy and our economy,” he said adding that the government values work done by institutions such as the SA Reserve Bank and the Special Investigations Unit in fighting state corruption.

Zuma said these institutions are not only supported to please investors, but also South Africans “because they deserve good governance and effective service delivery”.

The KZN One Stop Shop was the third to be launched in the country. One is in Gauteng and another is in the Western Cape.

Seeking investments

Zuma said investment promotion was critical for the economy. “We need to create a conducive environment and it’s for that reason the one stop shops are being created across the country.”

He said in light of the current economic challenges in South Africa, more was needed to be done to create an environment that support investment.

“We thus remain fully committed to the country’s fiscal framework as articulated in the recently tabled medium term budget policy statement. The National Treasury is leading us preparing proposals that are designed to take our public finances back to a sustainable path,” he said.

KZN Economic Development and Environmental Affairs MEC Sihle Zikalala said the aim of the one stop shops is to make it easy for investors to invest in the province.

KZN’s one stop shop would have satellite centres at the Dube Trade Port and at the Richards Bay Industrial Development Zone to cater for businesses north of KZN.

Premier Willies Mchunu said they believe that the one stop shop would help the KZN economy “integrate with economies of the world”.

Deputy Minister of Trade and Industry Bulelani Magwanishe said they were expecting all provinces of the country to have their own one stop shops in the next two to three years. – News24

Advertisting

Hlophe complaint is an eerie echo

But the new complaint against the Western Cape judge president is also unprecedented

Mabuza contract grows by R10m

Eskom’s negotiators in a R100-million maintenance contract came back with a proposal to push up the costs

‘There were no marks on his neck’, Neil Aggett inquest...

The trade unionist’s partner at the time he was detained at John Vorster Square says she now believes his death was not a suicide
Advertising

Press Releases

Boosting safety for cargo and drivers

The use of a telematics system for fleet vehicles has proved to be an important tool in helping to drive down costs and improve efficiency, says MiX Telematics Africa.

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA

MTN unveils TikTok bundles

Customised MTN TikTok data bundles are available to all prepaid customers on *136*2#.

Marketers need to reinvent themselves

Marketing is an exciting discipline, offering the perfect fit for individuals who are equally interested in business, human dynamics and strategic thinking. But the...

Upskill yourself to land your dream job in 2020

If you received admission to an IIE Higher Certificate qualification, once you have graduated, you can articulate to an IIE Diploma and then IIE Bachelor's degree at IIE Rosebank College.

South Africans unsure of what to expect in 2020

Almost half (49%) of South Africans, 15 years and older, agree or strongly agree that they view 2020 with optimism.