South African Airways majority stake sold off to private consortium

GhostSixFour

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Do ministers still get free flights? Or will they now be using other airlines similar to sending their kids to private schools and using private hospitals?
 

Mila

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Harith General Partners Pty Ltd.
 

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Everyones-a-Wally

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Do ministers still get free flights? Or will they now be using other airlines similar to sending their kids to private schools and using private hospitals?
Good question... no doubt some profit from government flights is going to find it's way back to the ANC. This appears to be a good way to do that.
 
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Vrotappel

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So the R3.5 billions comes from the extra funding the ANC slipped in at the last moment.
 

Priapus

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so we have gone from : No one will buy SAA, when GP and Gov were looking for equity partners. Now that someone/consortium has bought a majority stake ... now talking points are shifting, predictable ... been a good week, Eskom now SAA =may not be where we suppose to be , but we are on our way....

It's MyBB. This is how it works here.

There have been some good movements in our country of late, small steps, sure. But in the right direction. But the likes @rvZA and others will try their hardest to convince you we are going to Zim 2.0 "In 5 years"

Anyway, this is good. SAA will no longer be a burden pin the public finances. For that alone, it is good news.
 

Everyones-a-Wally

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It's MyBB. This is how it works here.

There have been some good movements in our country of late, small steps, sure. But in the right direction. But the likes @rvZA and others will try their hardest to convince you we are going to Zim 2.0 "In 5 years"

Anyway, this is good. SAA will no longer be a burden pin the public finances. For that alone, it is good news.
Hopefully it will be good news, though I suspect it will take some effort to let go of the apron strings. 49% is still a sizeable investment.
As for the privateers... who invests in an airline in this day and age???
 

rvZA

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So the R3.5 billions comes from the extra funding the ANC slipped in at the last moment.

This will not be the last of it. I guarantee you that today. When the day comes and more tax money is paid over, the ANC will simply say they still own 49% of the airline and that it is in the public interest. There is no way that the ANC would enter into deal that would benefit the taxpayer. This is where the ANC needs to be, where they can loot and steal. I still am very scared of this deal. I will be waiting for that day when all the important and hidden information comes out.
 

Gaz{M}

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I wonder what happens now to "lift" airline, since they own that too. It is effectively a competitor.
 

Rocco1

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Classic MyBb.
so we have gone from : No one will buy SAA, when GP and Gov were looking for equity partners. Now that someone/consortium has bought a majority stake ... now talking points are shifting, predictable ... been a good week, Eskom now SAA =may not be where we suppose to be , but we are on our way....

Quote from Discord's Earlymorningcoffee - "Does it never stop, how about some investigative journalism. One quick google search tells you Harith General Partners was only created to manage a so-called African fund with PIC money by an ex PIC employee who of course did nothing wrong. So dear state employees: your savings are funding SAA"

So its seems PIC/GEPF money will keep this duck afloat...

Obviously you have no problems with sly dealing on how Gov gonna use pensioners money to keep Pravin's project alive..
 

TelkomUseless

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Quote from Discord's Earlymorningcoffee - "Does it never stop, how about some investigative journalism. One quick google search tells you Harith General Partners was only created to manage a so-called African fund with PIC money by an ex PIC employee who of course did nothing wrong. So dear state employees: your savings are funding SAA"

So its seems PIC/GEPF money will keep this duck afloat...

Obviously you have no problems with sly dealing on how Gov gonna use pensioners money to keep Pravin's project alive..
Will the PIC/GEPF now fund SAA (year after year losses) ? If so then nice, let government employees fund SEOs.
 

mypetcow

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Well this is exciting. A 51% stake will definitely ruffle a few feathers but Global is a serious airline having operated in Africa for years so I’m confident they’ll be able to turn this around
 

Louis72

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I wonder what happens now to "lift" airline, since they own that too. It is effectively a competitor.
Throw it together with Mango? They are actually more in competition with each other.
 

deesef

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This is a real crop of crap! I have read a number of articles on the subject and it appears that the consortium is not paying a blue cent for their 51% share. All the articles say is; "The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years".

In other words, they may invest their own money into their own company, but there is never any mention of actually paying the current owners for the 51%.

Also, some articles are saying that guvimint will still pay for some costs (unspecified) during the purchase period.

So much for feeding their own faces...
 

yebocan

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Quote from Discord's Earlymorningcoffee - "Does it never stop, how about some investigative journalism. One quick google search tells you Harith General Partners was only created to manage a so-called African fund with PIC money by an ex PIC employee who of course did nothing wrong. So dear state employees: your savings are funding SAA"

So its seems PIC/GEPF money will keep this duck afloat...

Obviously you have no problems with sly dealing on how Gov gonna use pensioners money to keep Pravin's project alive..

Instead of lapping up what others , that agree with your view say, rather be honest and say..I don't have the cognitive capacity to actually think critically for myself and so default to believing whatever someone says that agrees with me... the so called Pan-African fund has a well established track record... SAA would sit well in their transport portfolio...


Harith General Partners is the leading Pan-African fund manager for infrastructure development across the continent. With offices in Johannesburg and Cote d’Ivoire; Harith manages Africa’s first and only 15-year US$630m infrastructure fund, the Pan African Infrastructure Development Fund (PAIDF) 1 and recently announced the first close of the US$435m PAIDF2.​

The funds are invested in a number of major projects in diversified sectors such as energy, transport, information and telecommunications, and water and sanitation. Harith recently added health as a sector. PAIDF is supported by African capital raised from state pension funds, development finance institutions, top investment banks and financial institutions.
Harith is one of the largest investors in African infrastructure, with a long track record of value creation across the continent in the five core infrastructure sectors of energy, transport, telecommunications, health, and water. Headquartered in Sandton, Harith has developed a pipeline of infrastructure projects designed to make a material difference to Africa’s gaping infrastructure deficit, which the World Bank estimates costs the continent 2% of GDP a year in lost growth.
Since its establishment over a decade ago, Harith has become the first port of call for every major African infrastructure project sponsors and developers needing funding and expertise. This status is thanks to our track record of successfully executing complex mega infrastructure projects, strong institutional culture, grounded in ethical conduct and excellent corporate governance. Our partners include some of the largest development finance institutions and banks investing in South Africa and the rest of Africa.

Harith is also in a partnership with Asset and Resource Management Company Ltd (ARM), a leading Nigerian financial services company which currently manages over US$2.7bn of assets, to form the ARM-Harith Infrastructure Fund (ARMHIF). ARMHIF invests in infrastructure projects in West Africa. Harith has also launched PROGENY which is a project development fund seeking to strengthen project origination capacity in Africa.
In partnership with Namibian based INO Capital, Harith has jointly started the Namibia infrastructure Fund (NIF). The partnership is grateful for the role played by the GIPF of Namibia which has championed the establishment of the fund. The NIF is a dedicated Namibia focused Infrastructure Fund. The GIPF invested N$ 280m into the Fund.

ABOUT US​

Harith is one of the largest investors in African infrastructure, with a long track record of value creation across the continent in the five core infrastructure sectors of energy, transport, telecommunications, health and water.

 

Speedster

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This is a real crop of crap! I have read a number of articles on the subject and it appears that the consortium is not paying a blue cent for their 51% share. All the articles say is; "The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years".

In other words, they may invest their own money into their own company, but there is never any mention of actually paying the current owners for the 51%.

Also, some articles are saying that guvimint will still pay for some costs (unspecified) during the purchase period.

So much for feeding their own faces...
I assume they're also taking on 51% of the debt
 
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