News Formal

Mango sale in jeopardy as it awaits key approvals | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

Business News News

A 'sudden turn of events' in that Minister of Public Enterprises Pravin Gordhan has not yet approved the sale of Mango, means the transaction may have to be abandoned and the airline wound down. | News24_Business

Minister of Public Enterprises Pravin Gordhan has not approved the sale of Mango within the period allowed by the Public Finance Management Act.

This is according to the latest status report to creditors released by the airline's business rescue practitioner, Sipho Sono, on Thursday. Sono states in his latest report that, regrettably, Gordhan has not made a decision yet. The PFMA allows for an application to be deemed as approved if there is no response within 30 days. However, SAA and its shareholder, the Department of Public Enterprises , agreed on an extension period.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Markus Jooste fined R15m, banned from directorships at listed companies for 20 yearsThe JSE has finally taken action against the disgraced former Steinhoff CEO. There must be a story behind what took so long When is he going to prison? What is R15m to him? Come on JSE, stand up and be counted, for once. Biggest fraud ever in the country, and this is what you fine him? How much did he cost the country and its reputation
Source: dailymaverick - 🏆 3. / 84 Read more »

Financial Services Tribunal overturns R2.5m fine against deVere CEO Nigel Green | BusinessThe Financial Services Tribunal has set aside a R2.5 million fine against deVere CEO Nigel Green, with the counsel for the Financial Sector Conduct Authority acknowledging the authority erred in terms of section of legislation it accused him of contravening. _Business Maybe Mark Jooste must approach them for appeal you advise?
Source: News24 - 🏆 4. / 80 Read more »

Xi warns Chinese officials to avoid collusion with Big BusinessAction should be taken to prevent leading officials from acting for any interest group or power group, president says Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Jori_hexFX and started Bitcoin trading, I earned R150,000 in 3 weeks thanks Jori_hexFX
Source: BDliveSA - 🏆 12. / 63 Read more »

Microsoft is reportedly in talks to pump another $10 billion into ChatGPT owner OpenAI | Business InsiderMicrosoft is negotiating to receive 75% of OpenAI's profits until it gets it recovers its investment, after which it would own 49% of the startup.
Source: BISouthAfrica - 🏆 34. / 51 Read more »