The end of an era for another state-owned company in South Africa

  • 📰 BusinessTechSA
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 61%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Parliament’s portfolio committee on public enterprises says the conclusion of the South African Express (SAX) Airline liquidation process can serve as a lesson in how the state should run state-owned entities (SOEs) and avoid future closures.

The local airline, which focused on flights to smaller towns in South Africa, has been in provisional liquidation since April 2020. In January this year, the return date for a final liquidation application was extended to 4 July, to see if a suitable deal can be reached to sell the airline.

The committee added that it is hopeful that the newly established ‘presidential state-owned council’ will chart a new trajectory for these entities as they remain critical to South Africa’s development.

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:

 /  🏆 24. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines