Takatso says SAA due diligence is now complete and no 'material issues' were identified

Takatso says SAA due diligence is now complete and no ‘material issues’ were identified

According to Takatso, which consists of Global Airways, which owns low-cost airline LIFT, and private-equity firm Harith, negotiations with the DPE are continuing. The due diligence process for Takatso to buy 51% of SAA is now complete, the consortium says. It said that no material issues were identified in the deal. Minister of Public Enterprises […]

Africa: Airlines Face Turbulence Over Surging Covid Cases

Africa: Airlines Face Turbulence Over Surging Covid Cases

Airlines, including national carrier Kenya Airways, face fresh uncertainty ahead of the peak festive season following a surge in Covid-19 infections on key service routes such as Europe and Southern Africa. The discovery of a new Covid variant in South Africa earlier this week has triggered massive disruptions in the global airline industry as more […]

CMA bars ailing companies from share buybacks

CMA bars ailing companies from share buybacks

The Capital Markets Authority (CMA) has barred listed firms with negative equity from rolling out share buybacks, locking out cash-strapped companies from the process largely applied to correct perceived undervaluation of stock. The regulator has ruled that directors of the companies which intend to repurchase stock from the market should ensure “assets … are equal […]