August 4, 2017 / 11:26 AM / a year ago

S.Africa's Gigaba may consider government pension fund to pay part of SAA bailout

CAPE TOWN, Aug 4 (Reuters) - South Africa Treasury may consider asking the government’s pension fund the Public Investment Corporation (PIC) to fund nearly half of the $1 billion bailout required by national carrier, finance minister Malusi Gigaba said on Friday.

Earlier Gigaba warned the country could slip into financial crisis if debts owed by state firms were not handled properly. South African Airways has outstanding debt of nearly 7 billion rand due in September. (Reporting by Wendell Roelf; Writing by Mfuneko Toyana; Editing by James Macharia)

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