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.
Tuesday, September 1, 2020
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.
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.
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