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| Version 52 | Version 53 |
|---|---|
| Africa Live: Nigeria won’t pay a dime to kidnappers - Tinubu - BBC News | Africa Live: Nigeria won’t pay a dime to kidnappers - Tinubu - BBC News |
| (32 minutes later) | |
| South Africa has terminated a deal to sell a stake in its national airline after failing to agree on a value and other terms with a consortium of private investors. | |
| The government had since 2021 planned to sell 51% of the loss-making South African Airways (SAA) to the Takatso Consortium, as part of efforts to end recurring bailouts of the flag carrier. | |
| After three years of negotiations, Public Enterprises Minister Pravin Gordhan on Wednesday said the deal had been called off "as there is no clear path forward". | |
| Mr Gordhan cited the impact of the post-Covid-19 market as a significant factor in the decision, leading to a revaluation of SAA’s worth. | |
| “We are convinced that SAA can sustain itself in the next year to 18 months and that there are various other ways in which immediate financing can be obtained," he added. | |
| In a statement, the Takatso Consortium said the changes in the deal to buy SAA would have taken too long to achieve. | |
| SAA will now revert to being fully state-owned but the government said the airline was open to entering into other partnerships. | |
| The collapse of the deal is a blow to President Cyril Ramaphosa’s efforts to sell off non-performing state entities and bring state debt under control. | |
| Read more: | |
| South African Airways: Troubled airline returns to intercontinental travel | |
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