South African state firms seeking billions of rand in bailouts, government says

By Reuters 

South Africa's President Cyril Ramaphosa South African state companies the Post Office and broadcaster SABC have requested billions of rand in financial support, the National Treasury said in a presentation to parliament on Tuesday.

The Treasury said the Post Office had requested 4.9 billion rand ($292.87 million) in support and SABC was seeking 1.5 billion rand because of the impact of the COVID-19 pandemic. It added that state agricultural lender Land Bank, which defaulted earlier this year, had resumed interest payments to lenders from August 11.