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State firms seeking billions of rand in bailouts, govt says

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The Treasury said the Post Office had requested R4.9 billion in support and SABC was seeking R1.5 billion because of the impact of the Covid-19 pandemic.

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.

It added that state agricultural lender Land Bank, which defaulted earlier this year, had resumed interest payments to lenders from Aug. 11.

 

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