South African Airways (SAA) will be transferred from the Department of Public Enterprises to the National Treasury.
The announcement was made at the last post Cabinet briefing of the year, which was chaired by Minister in the Presidency, Jeff Radebe as President Zuma was not in attendance.
Addressing the media on Thursday, Minister Radebe said Cabinet was concerned about the performance of some of the State-owned companies (SOCs), in particular SAA, the South African Post Office and Eskom.
“These SOCs play a critical developmental role within the South African economy.
The President has assigned Deputy President Cyril Ramaphosa to oversee the turnaround of three state-owned companies, namely SAA, Eskom and the South African Post Office”.
There is little doubt that South Africa will endure loadshedding in 2015 as the country runs out of power.