ANC gives green light to government's efforts to find equity partner for SAA

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Private investors in the 'new SAA' must understand its developmental role, ANC secretary-general Ace Magashule said on Wednesday.The ANC NEC has expressed its approval for the government to seek private funding for a new airline to replace SAA — with the caveat that investors must understand its developmental role.

Secretary-general Ace Magashule said this while announcing the outcomes of this past weekend’s NEC meeting on Wednesday, adding that the government would have to remain the majority shareholder in such an arrangement. “On private equity at SAA, we are saying government must have majority shares. We are equally calling for our own development finance institutions to participate if possible, wherever they see an opportunity,” he said.

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