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S.Africa’s Transnet seeks government bailout as debt mounts

S.Africa’s Transnet seeks government bailout as debt mounts

SOUTH Africa's state-owned logistics company Transnet has requested an unspecified cash injection from the government as it seeks to reduce debt and return to profitability, it said on Thursday. "Transnet has requested that national Treasury provide an equity injection to support the recovery plan implementation needed to reduce debt and meet required financial ratios for debt capital market participation," Transnet acting CFO Hlengiwe Makhathini told a media briefing. Board chairman Andile Sangqu said Transnet would be unable to carry out its turnaround plan, which seeks to restore freight volumes and return the company to profitability over the next 18 months…
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Cash injection urged to help poor fight COVID-19 during vaccine wait

Cash injection urged to help poor fight COVID-19 during vaccine wait

EMMA BATHA MORE than 80% of people in some developing countries have lost income due to COVID-19, economists said, warning that soaring poverty could hamper efforts to control the disease in nations where mass inoculation may be a long way off. Without emergency assistance, people desperate to feed their families may flout social distancing measures to look for work, fuelling the spread of the coronavirus, they said in a major study spanning three continents. "Economic help is part and parcel of fighting the virus," co-author of the study Shana Warren told the Thomson Reuters Foundation. "If you want people to…
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