Public Enterprises Minister Pravin Gordhan announced on Friday that a consortium of Harith and Global Aviation, called Takatso, would have a 51% stake in SAA.
"Having evaluated the current environment, the government has agreed to the (strategic equity partner) owning of 51 percent of the shareholding and government 49 percent," Public Enterprises Minister Pravin Gordhan said in an online media conference.
South Africa's government announced Friday it would sell a majority stake in cash-strapped flag carrier SAA to a consortium that includes the operator of a local budget airline, effectively privatising it.
The Department of Public Enterprises has identified two investors that are set to acquire a majority shareholding in SAA, a move that will see the government no longer wholly owning the troubled airline.
Public Enterprises Minister Pravin Gordhan, the current shareholder representative of SAA, announced on Friday, 11 June 2021 that investors will own a 51% majority shareholding in the airline. The government will hold a minority shareholding of 49%.
The two investors that will own a majority of SAA are part of a consortium, which includes Global Airways, a local jet-leasing company, and Harith General Partners, which funds infrastructure development across Africa. Harith also owns Lanseria International Airport in Gauteng.