StateOwnedEnterprises

South Africa Faces $10.4 Billion Funding Gap: Finance Minister Godongwana's Challenge in Upcoming Budget

1 month ago

In an urgent and economically significant move, South Africa's Finance Minister, Enoch Godongwana, is gearing up to address a substantial funding gap of 10.4 billion dollars in the country’s budget. As the Minister prepares to present the national budget, there is heightened scrutiny regarding how the government will manage fiscal stability while also addressing pressing social and economic needs.

South African Finance Chief Refuses Transnet Debt Relief Request Amidst Financial Struggles

3 months ago

South Africa’s Finance Minister, Enoch Godongwana, has firmly rejected a proposal from Transnet, the state-owned freight and rail company, which sought relief from its debt obligations. Transnet has been grappling with significant financial challenges, with its requests for government assistance coming to a head as the company continues to face steep losses. Godongwana's stance is grounded in his concern over the implications that such a bailout could have on the country’s fiscal health and overall economic stability.

ANC Urges National Treasury to Bail Out Transnet Amid Financial Struggles

3 months ago

In a significant development for South Africa's infrastructure sector, the African National Congress (ANC) has called upon the National Treasury to intervene and provide financial relief to Transnet, the state-owned logistics and freight transport company. This move comes as Transnet grapples with severe operational challenges and financial difficulties that have caused a ripple effect in the nation’s already strained economy.