[bctt tweet=”Ethiopian Airlines Group has expressed interest in buying a stake in South African Airways.”]
The African National Congress (ANC) is considering selling an equity stake in South African Airways although they have no clear strategy for such a deal.
Ethiopian Airlines is one of the fastest-growing airlines in Africa. The purchase deal with the struggling South African national airline is meant to help the company deal with its mounting debt problem.
South Africa’s state-owned enterprises have been in very chronic financial states and have been weighing down the economy. The Finance Minister Tito Mboweni has not had a choice but to allocate additional funds to these debt-ridden companies including SAA, power utility Eskom Holdings and the South African Broadcasting Corporation.
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