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business rescue planlatest news & developments
Gledhow Sugar Mill has become the latest sugar mill to enter into voluntary business rescue, piling pressure on the industry after a similar move by Tongaat Hulett in October. (Delwyn Verasamy/M&G)
BUSINESS RESCUE PLAN

After Tongaat, KZN sugar mill Gledhow seeks business rescue

Thousands of livelihoods in the sugar supply chain are expected to be impacted by the closure

  • Anathi Madubela
3 min read
Finance Minister Tito Mboweni said the SAA bailout would be financed by reducing the funds allocated to national departments and their entities as well as slashing provincial and local government conditional grants. (David Harrison/M&G)
ACSA

SAA to receive R10.5-billion government bailout after all

Several struggling state-owned entities received extra funds after the medium term budget policy speech

  • Thando Maeko
5 min read
BUSINESS RESCUE

SAA needs R2.2bn to pay for voluntary severance packages

More than 3 000 employees out of 5 000 have accepted the packages. The state-owned airline, which went into business rescue, is likely to retain 1 000 workers

  • Thando Maeko
2 min read