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page 4 lead Transnet remains optimistic despite ‘material uncertainty’
Transnet, a state-owned port and logistics company, faces "material uncertainty" about its ability to continue as a going concern due to a R1.9bn net loss, a net current liability position of R65.2bn, and covenant breaches following credit rating downgrades. Despite these challenges, the directors remain optimistic, citing a 7.8% revenue improvement and a significant reduction in losses, supported by R145.8bn in government guarantees. They emphasize the need to address operational challenges and improve cash generation to support capital investments and reduce debt. However, issues like noncompliance with National Treasury instructions regarding irregular expenditure persist.
‘Regulation must empower, not enforce,’ says Minister Malatsi
Minister Malatsi said he was focused on interventions that can take South Africa forward as well as enhance economic activity in his portfolio and throughout the ICT sector.
Action SA lodges complaint against Macpherson
The opposition party accuses the minister of using racist language
FlySafair posts flight cancellations due to pilot strike
However, FlySafair says its contingency plans should ensure flight operations continue largely as scheduled on Monday
Cold, wet weather to grip SA this week
Possible light snow is forecast for the eastern half of the Western Cape into the southwestern parts of the Eastern Cape this weekend
SA’s relations with Iran threaten economic stability, think-tank warns
Middle East Africa Research Institute criticises Pretoria’s relationship with Tehran, which is accused of ‘widespread human rights violations’
Is your logo legally yours?
Be aware of the conditions for legality and look out for the pitfalls that may be in the way of having a brand identity that passes the test
Cyril Ramaphosa lauds action to reform economy
The government began the next phase of Operation Vulindlela recently to build on ‘successes and initiate a second wave of reform’
Parks Tau unfazed by ‘litigation prone’ lottery tender
Every award of the licence has been the subject of litigation since its inception, says trade, industry and competition minister
‘ANC step-aside rule does not apply to Senzo Mchunu,’ says Fikile Mbalula
The rule applies only to members who have been charged or appeared in court, ANC secretary-general says
Government is considering providing a vaccine to protect babies from RSV
A new respiratory syncytial virus vaccine to protect infants from severe illness is available in South Africa’s private sector but not yet in public clinics. The country’s advisory group on immunisations has recommended making it available to all pregnant women
Payments reform on the cards as Reserve Bank draws up draft law
The institution is setting its sights on propelling the national payment system into the big-league club of emerging markets
Creecy’s dissolution of RAF board sparks CEO appointment delay
Process of appointing a new RAF CEO could be delayed as current boss’s term is about to come to an end
Fury at B20 role for state capture firms
Both McKinsey and Bain provide services for the business form, and the Black Business Council is not happy
Tau’s shock over IDC board
How did Sam Bhembe clinch board nomination despite R70m debt row with the corporation?
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