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63-536: The South African Nuclear Energy Corporation ( Necsa ) was established as a public company by the Republic of South Africa Nuclear Energy Act in 1999 (25 years ago)  ( 1999 ) and is wholly owned by the State. The name is correctly indicated above, although the sequence of letters in the acronym may be taken as suggesting that the name should be the "Nuclear Energy Corporation of South Africa". Necsa replaced

126-552: A mixed economy , emerging market , and upper-middle-income economy, one of only eight such countries in Africa. The economy is the most industrialised, technologically advanced, and diversified in Africa. Following 1996, at the end of over twelve years of international sanctions, South Africa 's nominal gross domestic product (GDP) almost tripled to a peak of US$ 416 billion in 2011. In the same period, foreign exchange reserves increased from US$ 3 billion to nearly US$ 50 billion, creating

189-561: A 36% majority of the gross value of South Africa's field crops, has also experienced negative effects due to climate change. The estimated value of loss, which takes into consideration scenarios with and without the carbon dioxide fertilization effect, ranges between tens and hundreds of millions of Rands. According to FAOSTAT , South Africa is one of world's largest producers of: chicory roots (4th); grapefruit (4th); cereals (5th); green maize and maize (7th); castor oil seed (9th); pears (9th); sisal (10th); fibre crops (10th). In

252-645: A diversified economy with a growing and sizable middle class , within three decades of ending apartheid . Although the natural resource extraction industry remains one of the largest in the country with an annual contribution to the GDP of US $ 13.5 billion, the economy of South Africa has diversified since the end of apartheid, particularly towards services . In 2019, the financial industry contributed US$ 41.4 billion to South Africa's GDP. In 2021, South Africa-based financial institutions managed more than US$ 1.41 trillion in assets . The total market capitalization of

315-642: A means of utilising Cape Town's low labour costs and talented labour force. South Africa is a popular tourist destination, with around 860,000 arrivals per month (March 2008) of which around 210,000 is from outside the African continent. In 2012 South Africa received 9.2 million international arrivals. In August 2017 3.5 million travellers came to South Africa. According to the World Travel & Tourism Council, travel and tourism directly contributed ZAR102 billion to South African GDP in 2012 and supports 10.3% of jobs in

378-885: A multi-purpose reactor (MPR) which will replace the SAFARI-1. State-owned enterprises of South Africa State-owned enterprises play a significant role in the South African economy . In key sectors such as electricity, transport (air, rail, freight, and pipelines), and telecommunications, SOEs play a lead role, often defined by law, although limited competition is allowed in some sectors (i.e., telecommunications and air). The government's interest in these sectors often competes with and discourages foreign investment. The Department of Public Enterprises minister has publicly stated that South Africa's SOEs should advance economic transformation, industrialization and import substitution. DPE has oversight responsibility in full or in part for six of

441-608: A report of a presidential review commission on SOE, which called for nationalization of SOEs, no concrete action has been taken on the topic yet. By the end of the Zuma administration in 2018 corruption within South African state owned enterprises by individuals connected to government such as the controversial Gupta family had led to many enterprises facing deep financial difficulty. Deepening financial issues, mismanagement, maladministration and government bailouts of enterprises such as

504-638: A result of trade agreements with the European Union and the Southern African Development Community . After a steep decline of 10.4% in 2009, the manufacturing sector performed well in 2010, growing by 5%, though this rebound was primarily limited to the automotive, basic chemicals, iron and steel and food and beverages industries. The performance of this sector remains curtailed by the low demand in South Africa's main export markets in

567-429: A role in the decline of exports for the food, textiles and paper sub-sectors, as firms in these sectors increasingly compete with lower cost producers. Increased exports from the beverages, tobacco, wood and leather sub-sectors over the period are probably due to the presence of large dominant firms within these sectors in South Africa, that have managed to remain competitive. The manufacturing industry's contribution to

630-481: A shortage of skilled workers for some high-tech industries, political instability, and corruption . On the other hand, the country's banking sector was rated as a strongly positive feature of the economy. The nation is among the G20 , and is the only African country that is a permanent member of the group. The formal economy of South Africa has its beginnings in the arrival of Dutch settlers in 1652, originally sent by

693-497: A wide range of products and services to South African and foreign market sectors with the SAFARI-1 reactor as the cornerstone of the commercial isotope production programme. This research reactor at Pelindaba , SAFARI-1 produces medical isotopes such as Molybdenum-99 which are sold globally by the NTP. The NTP Radioisotopes Group had sales of 1.222 billion ZAR (€75M) in 2016. In 1948,

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756-599: Is expected to grow in South Africa. Over the last few decades, South Africa and particularly the Cape Town region has established itself as a successful call centre and business process outsourcing destination. With a highly talented pool of productive labour and with Cape Town sharing cultural affinity with Britain, large overseas firms such as Lufthansa, Amazon.com, ASDA, The Carphone Warehouse, Delta Airlines and many more have established inbound call centres within Cape Town as

819-440: Is reasonably diversified with key economic sectors including mining, agriculture and fisheries, vehicle manufacturing and assembly, food processing, clothing and textiles, telecommunication, energy, financial and business services , real estate, tourism, manufacturing, IT, transportation, and wholesale and retail trade. In 2019, the country was the world's largest producer of platinum ; the world's largest producer of chromium ;

882-449: Is the second subsidiary which produces fluorochemicals for industrial applications and household. Necsa employs some 1,700 people in diverse areas such as nuclear physicists , engineering , chemistry and electronics . With changes in the country's positioning on nuclear involvement and South Africa's re-entry into world markets in 1990, a decision was taken to focus the organisation on commercially driven projects. Today, Necsa supplies

945-589: The Dutch East India Company to establish a provisioning station for passing ships. As the colony increased in size, with the arrival of Huguenots and German colonists, some of the colonists were set free to pursue commercial farming, leading to the dominance of agriculture in the economy. At the end of the 18th century, the British annexed the colony. This led to the Great Trek , spreading farming deeper into

1008-537: The Independent Electoral Commission and Public Protector among others. Schedule 2 entities are listed as Major Public Entities and have greater autonomy than Schedule 3 entities. Schedule 2 entities are listed below. Schedule 3 entities are subdivided into: There are currently 108 State Owned Enterprises in South Africa Economy of South Africa The economy of South Africa is

1071-522: The International Monetary Fund : South Africa has a comparative advantage in the production of agriculture , mining and manufacturing products relating to these sectors. South Africa has shifted from a primary and secondary economy in the mid-twentieth century to an economy driven primarily by the tertiary sector in the present day which accounts for an estimated 65% of GDP or $ 230 billion in nominal GDP terms. The country's economy

1134-517: The Johannesburg Stock Exchange is US$ 1.28 trillion as of October 2021. The state-owned enterprises of South Africa play a significant role in the country's economy, with the government owning a share in around 700 SOEs involved in a wide array of important industries. In 2016 according to business executives, the top five challenges to doing business in the country were inefficient government bureaucracy, restrictive labour regulations,

1197-624: The Second Boer War which saw the deployment of scorched earth tactics against Boer non-combatants. South Africa also entered a period of industrialization during this time, including the organization of the first South African trade unions . The country soon started putting laws distinguishing between different races in place. In 1948 the National Party won the national elections, and immediately started implementing an even stricter race-based policy named Apartheid , in an attempt to shelter

1260-512: The South African Broadcasting Corporation , South African Airways , Eskom , Denel , PRASA , and Transnet caused increased public controversy. By the end of 2015–16 combined government guarantees on debts owed by state owned enterprises had reached R467 billion (equivalent to US$ 33.1 billion) and were expected to reach R500 billion by 2020 representing 10 percent of South Africa's GDP. The situation at Eskom

1323-574: The South African Communist Party . By 2007, an alliance of unions and leftist factions within the ANC had unseated President Thabo Mbeki , replacing him with Jacob Zuma . The new ANC policy aimed at expanding the role of SOEs in the economy, following the example of China. Although in 2015 and 2016, senior government leaders discussed allowing private-sector investment into some of the more than 700 state-owned enterprises and recently released

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1386-499: The Vaalputs radioactive waste disposal facility. The corporation also serves the State's other nuclear institutional obligations. The chief executive officer of Necsa is Mr. Loyiso Tyabashe since 1 January 2021. Necsa has two subsidiaries, which are NTP Radioisotopes SOC is a company that serves the international markets for radiation-based technology and products such as nuclear medicine for diagnosis and treatment of cancer. Pelchem SOC

1449-498: The economy is relatively small, providing just 13.3% of jobs and 15% of GDP. There are growing sectors of manufacturing, however, such as in the Space industry. Labour costs are low, but not nearly as low as in most other emerging markets, and the cost of the transport, communications and general living is much higher. The South African automotive industry accounts for about 10% of South Africa's manufacturing exports, contributes 7.5% to

1512-412: The 4th most advanced mobile telecommunications network worldwide. The five major cellular providers are Vodacom , MTN , Cell C (Vodacom), Telkom Mobile(8.ta) and Rain, with Neotel owned by Liquid Telecoms not offering mobile service anymore. South African companies which provide services related to the Space industry, also increasing, and with the correct government legislation and support, this sector

1575-737: The Atomic Energy Board (AEB) was established. In 1957, South Africa and the United States signed an agreement to procure a research reactor. In 1970, the Uranium Enrichment Corporation (UCOR) was established. On 1 July 1982, the Nuclear Energy Act (Act 92 of 1982) created the Atomic Energy Corporation (AEC), superseding the former AEB. It became responsible for all nuclear related activities. And on 1 July 1985,

1638-537: The JSE Limited, the largest stock exchange on the African continent, ranking 17th in the world in terms of total market capitalisation , which is $ 1,005 Trillion as of August 2020. The banking industry , overseen by the South African Reserve Bank , is dominated by four local players: Nedbank , ABSA , Standard Bank and First Rand . These banks provide both retail and investment banking services as

1701-1042: The Main Reef/Main Reef Leader on Gerhardus Oosthuizen's farm Langlaagte, Portion C, in 1886, the Witwatersrand Gold Rush and the subsequent rapid development of the goldfield there, the biggest of them all. South Africa is one of the world's leading mining and mineral-processing countries. Though mining's contribution to the national GDP has fallen from 21% in 1970 to 6% in 2011, it still represents almost 60% of exports. The mining sector accounts for up to 9% of value added. In 2008, South Africa's estimated share of world platinum production amounted to 77%; kyanite and other materials, 55%; chromium, 45%; palladium , 39%; vermiculite , 39%; vanadium , 38%; zirconium , 30%; manganese , 21%; rutile , 20%; ilmenite , 19%; gold, 11%; fluorspar , 6%; aluminium, 2%; antimony , 2%; iron ore, 2%; nickel, 2%; and phosphate rock , 1%. South Africa also accounted for nearly 5% of

1764-787: The South African market with services such as political risk insurance and loans and loan guarantees. In July 1996, the US and South Africa signed an investment fund protocol for a $ 120 million OPIC fund to make equity investments in South and Southern Africa. OPIC is establishing an additional fund – the Sub-Saharan Africa Infrastructure Fund, capitalised at $ 350 million – to investment in infrastructure projects. The Trade and Development Agency also has been actively involved in funding feasibility studies and identifying investment opportunities in South Africa for U.S. businesses. Despite

1827-605: The South African telecommunications parastatal , was partly privatised and entered into a strategic equity partnership with a consortium of SBC (AT&T), in exchange for a monopoly to provide certain services for 5 years. Telkom assumed an obligation to facilitate network modernization and expansion into the unserved areas. A Second Network Operator, Neotel was to be licensed to compete with Telkom across its spectrum of services in 2002. Licensing officially began in late 2005. Five mobile-phone companies provide service to over 50 million subscribers, with South Africa considered to have

1890-613: The United States, China, Japan, the United Kingdom, Bangladesh and Spain. Chief exports include corn , diamonds, fruits, gold, metals and minerals, sugar, and wool. Machinery and transportation equipment make up more than one-third of the value of the country's imports. Other imports include chemicals, manufactured goods, and petroleum. As a result of a November 1993 bilateral agreement, the Overseas Private Investment Corporation (OPIC) can assist US investors in

1953-567: The Uranium Enrichment Corporation and Nuclear Development Corporation (NUCOR) was reincorporated into the AEC, having been two separate subsidiary companies created in 1982. The AEC then became the South African Nuclear Energy Corporation in 1999. In 2003, NTP Radioisotopes Group was incorporated as a wholly owned subsidiary of Necsa. In 2007, Pelchem became a wholly owned subsidiary of Necsa. The 20 MW research reactor SAFARI-1

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2016-411: The approximately 700 SOEs that exist at the national, provincial, and local levels: Alexkor (diamonds), Denel (military equipment), Eskom (electricity generation), Transnet (railway transport and pipelines) South African Express , South African Forestry Company (SAFCOL) (forestry), South African Broadcasting Corporation . These seven SOEs employ approximately 105,000 people. The states share of

2079-526: The country are Arvin Exhaust, Bloxwitch, Corning and Senior Flexonics. There are also about 200 automotive component manufacturers in South Africa, and more than 150 others that supply the industry on a non-exclusive basis. The industry is concentrated in two provinces, the Eastern Cape and Gauteng . Companies producing in South Africa can take advantage of the low production costs and the access to new markets as

2142-442: The country's Atomic Energy Corporation. Apart from several ancillary functions, the main functions of Necsa are to undertake and promote research and development in the field of nuclear energy and related technologies; to process and store nuclear material and other restricted material; and to co-ordinate with other organisations in matters falling within these spheres. Apart from its main operations at Pelindaba , Necsa also operates

2205-649: The country's GDP and employs around 36,000 people. Annual production in 2007 was 535,000 vehicles, out of a global production of 73 million units in the same year. Vehicle exports were in the region of 170,000 units in 2007, exported mainly to Japan (about 29% of the value of total exports), Australia (20%), the UK (12%) and the US (11%). South Africa also exported ZAR 30.3 billion worth of auto components in 2006. BMW , Ford , Volkswagen , Daimler-Chrysler , General Motors , Nissan and Toyota all have production plants in South Africa. Large component manufacturers with bases in

2268-407: The country's GDP and supports 27% of all working people. The South African Local Economic Development Network values the informal economy at 28% of SA's GDP. Given the relevance of this input, there is a constant interest in developing actions on an inclusive urban planning for the working poor. Principal international trading partners of South Africa—besides other African countries—include Germany,

2331-466: The country's credit status to the sub-investment grade of BBB−. The South African rand lost more than 11% in the week following the cabinet reshuffling. The following table shows the main economic indicators in 1980–2022. Inflation under 5% is in green. (in billion US$ nominal) (in US$ nominal) This is a chart of the trend of South Africa's gross domestic product (GDP) at market prices estimated by

2394-405: The country. Among the main attractions are the diverse and picturesque landscape, the game reserves and the highly regarded local wines. The country's borders were reopened on 1 October 2020, with some exceptions to tourists travelling from specific European countries and the US, due to high levels of COVID-19 activity taking place there. South Africa has a sophisticated financial structure, with

2457-427: The developed world. There is growth in some areas, such as the Space industry in South Africa, which is expected to see an increase in Space industry jobs, and jobs in supporting technology and manufacturing sectors. The domestic telecommunications infrastructure provides modern and efficient service to urban and rural areas. This includes cellular and internet services from 5G to Gigabit Broadband. In 1997, Telkom ,

2520-524: The first quarter of 2010, the agricultural sector earned export revenues for R10.1 billion and used R8.4 billion to pay for imported agricultural products, therefore earning a positive trade balance of R1.7 billion. The most important agricultural exports of South Africa include: edible fruit and nuts, beverages, preserved food, tobacco, cereals , wool not carded or combed, miscellaneous food, sugar, meat, milling products, malt and starch. These products accounted for over 80% of agricultural export revenue in

2583-463: The first quarter of 2010. The most important agricultural imports, which accounted for over 60% of agricultural import value during the same period, include: cereals, meat, soya-bean oil cake, beverages, soya-bean oil and its fractions, tobacco, palm oil and its fractions, miscellaneous food, spices, coffee, tea, and preserved food. The dairy industry consists of around 4,300 milk producers providing employment for 60,000 farm workers and contributing to

South African Nuclear Energy Corporation - Misplaced Pages Continue

2646-541: The following years typical output increased back to 20MW. Since 2009 the reactor has operated solely on low enriched uranium fuel. Mr David Nicholls chairs the Necsa Group board since January 2020 and was reappointed by Minister of Mineral Resources and Energy, Mr Gwede Mantashe in January 2023. The board presence and continuity is accredited for the entity's governance improvement and stability. In 2021, cabinet approved of

2709-544: The four most frequently mentioned constraints. In April 2017, political tensions in the country arose over the sacking of nine cabinet members including Minister of Finance Pravin Gordhan by the president Jacob Zuma . The finance minister was seen as central to efforts to restore confidence in South Africa. As a result of the tensions, S&P Global cut South Africa's credit rating to junk status on Monday 3 April 2017. Fitch Ratings followed suit on Friday 7 April 2017 and cut

2772-546: The investment was 21% while private enterprise contributed 63% (government spending made up the remainder of 16%). The IMF estimates that the debt of the SOEs would add 13.5% to the overall national debt. Many state-owned firms were established during the apartheid era to counter the impact of international sanctions against the country. The ANC government initially sold stakes in the companies, and lowered import tariffs. Those measures were reversed following opposition from COSATU and

2835-438: The latter including African Exploration Mining and Finance Corporation . In 2018, South Africa produced 19.3 million tonnes of sugarcane (14th largest producer in the world), 12.5 million tonnes of maize (12th largest producer in the world) 1.9 million tons of grape (11th largest producer in the world), 1.7 million tons of orange (11th largest producer in the world) and 397 thousand tons of pear (7th largest producer in

2898-498: The livelihoods of around 40,000 others. The food sub-sector is the largest employer within the agro-processing sector – contributing 1.4% to total employment, and 11.5% within the manufacturing sector. In 2006, the agro-processing sector represented 24.7% of the total manufacturing output. Although the economy as a whole gained 975,941 jobs between 1995 and 2006, the agro-processing sector lost 45,977 jobs. The competitive pressures from abroad, particularly from China and India, played

2961-519: The main driving force behind the history and development of Africa's most advanced economy. Large-scale and profitable mining started with the discovery of a diamond on the banks of the Orange River in 1867 by Erasmus Jacobs and the subsequent discovery and exploitation of the Kimberley pipes a few years later. Gold rushes to Pilgrim's Rest and Barberton were precursors to the biggest discovery of all,

3024-574: The mainland, as well as the establishment of the independent Afrikaner Republics of the Transvaal and the Orange Free State . In 1870 diamonds were discovered in Kimberley , while in 1886 some of the world's largest gold deposits were discovered in the Witwatersrand region of Transvaal, quickly transforming the economy into a resource-dominated one. The British annexed the area as a result of

3087-492: The matter: whereas Manuel foresaw a quarter of economic growth, Mboweni predicted further decline: "technically," he said, "that's a recession." In 2009 the Nobel-Prize-winning economist Joseph Stiglitz warned South Africa that inflation targeting should be a secondary concern amid the global financial crisis of 2007–2009. South Africa, unlike other emerging markets, has struggled through the late 2000s recession , and

3150-503: The nation. However, due to the aridity of the land, only 13.5% can be used for crop production, and only 3% is considered high potential land. The sector continues to face problems, with increased foreign competition and crime being two of the major challenges for the industry. The government has been accused of either putting in too much effort, or not enough effort, to tackle the problem of farm attacks as opposed to other forms of violent crime. Maize production, which contributes to

3213-707: The numerous positive economic achievements since 1994, South Africa has struggled to attract significant foreign direct investment . The situation may have started to change however, with 2005 seeing the largest single FDI into South Africa when Barclays bought a majority share in local bank Absa Group Limited . Deals between the British-based Vodafone and South Africa's Vodacom have taken place in 2006. In 2010, two multibillion-dollar deals, one by HSBC to acquire Nedbank and one by Walmart to acquire Massmart Holdings, fell through. (Walmart did buy Massmart in 2011.) South Africa has been riven by arguments over whether

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3276-449: The original white society from a never-ending increase in the black population. The policy was widely criticised and led to crippling sanctions being placed against the country in the 1980s. South Africa held its first non-restricted racial elections in 1994, leaving the newly all-African elected African National Congress (ANC) government the daunting task of trying to restore order to an economy harmed by sanctions, while also integrating

3339-500: The pace of privatisation , raising governmental spending and cutting interest rates sharply from 1998 levels. His policies faced strong opposition from organised labour . From 2004 onward economic growth picked up significantly; both employment and capital formation increased. In April 2009, amid fears that South Africa would soon join much of the rest of the world in the late-2000s recession , Reserve Bank Governor Tito Mboweni and Minister of Finance Trevor Manuel differed on

3402-424: The previously disadvantaged segment of the population into it. The government refrained from resorting to economic populism. Inflation was brought down, public finances were stabilised, and some foreign capital was attracted. However, growth was still subpar. At the start of 2000, then President Thabo Mbeki vowed to promote economic growth and foreign investment by relaxing restrictive labour laws , stepping up

3465-444: The recovery has been largely led by private and public consumption growth, while export volumes and private investment have yet to fully recover. The long-term potential growth rate of South Africa under the current policy environment has been estimated at 3.5%. Per capita GDP growth has proved mediocre, though improving, growing by 1.6% a year from 1994 to 2009, and by 2.2% over the 2000–09 decade, compared to world growth of 3.1% over

3528-486: The same period. The high levels of unemployment, at over 25%, and inequality are considered by the government and most South Africans to be the most salient economic problems facing the country. These issues, and others linked to them such as crime, have in turn hurt investment and growth, consequently having a negative feedback effect on employment. Crime is considered a major or very severe constraint on investment by 30% of enterprises in South Africa, putting crime among

3591-465: The sector has become highly competitive with the re-entry of many experienced foreign banks, which returned to the market in the mid-1990s, having left in the late 1980s. Banks operating in South Africa, when left short of liquidity, need to borrow from the SARB at a fluctuating repo rate , which, in turn, allows the central bank to monitor liquidity positions. South Africa's informal sector contributes 8% of

3654-625: The state should take over mineral resources. A study commissioned by the African National Congress recommended against the policy, saying nationalisation would be an "economic disaster." However, the ANC Youth Employment supporters disagree and state that it will give the government direct control over the mining sector which is also in alignment with the Freedom Charter signed in 1995. The government aimed to transfer 30% of

3717-409: The world's largest producer of manganese ; the 2nd largest world producer of titanium ; the world's 11th largest producer of gold ; the 3rd worldwide producer of vanadium ; the 6th largest world producer of iron ore ; the 11th largest world producer of cobalt ; and the 15th largest world producer of phosphate . It was the world's 12th largest producer of uranium in 2018. Mining has been

3780-441: The world's polished diamond production by value. The country's estimated share of world reserves of platinum group metals amounted to 89%; hafnium , 46%; zirconium , 27%; vanadium , 23%; manganese , 19%; rutile , 18%; fluorspar , 18%; gold, 13%; phosphate rock , 10%; ilmenite , 9%; and nickel, 5%. It is also the world's third largest coal exporter. The mining sector has a mix of privately owned and state-controlled mines,

3843-787: The world). In addition, in the same year, it produced 2.4 million tons of potato , 1.8 million tons of wheat , 1.5 million tons of soy , 862 thousand tons of sunflower seed , 829 thousand tons of apple , 726 thousand tons of onion , 537 thousand tons of tomato , 474 thousand tons of lemon , 445 thousand tons of grapefruit , 444 thousand tons of banana , 421 thousand tons of barley , in addition to smaller productions of other agricultural products, such as avocado , pineapple , peach , tangerine , pumpkin , cabbage , carrot , rapeseed , sorghum etc. The agricultural industry contributes around 5% of formal employment, relatively low compared to other parts of Africa, as well as providing work for casual labourers and contributing around 2.8% of GDP for

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3906-527: Was initially used for high level nuclear physics research programmes and was commissioned on 18 March 1965. In the 1970s and 1980s, amid reduced output due to embargo of international fuel supply, the focus of activities at Pelindaba was on the exploitation of South Africa's uranium resources through the successful design, construction and commissioning of commercial uranium hexafluoride , uranium enrichment , and nuclear fuel assembly production facilities. In 1993 focus shifted to commercial operations and over

3969-614: Was regarded as so serious as to lead the South African business newspaper Business Day to speculate that it could cause a national banking crisis . In 2021 the South African Treasury reported that South African Airways had accumulated a total loss between 2008 and 2020 of R32 billion (US$ 2.1 billion) and received a total of R60 billion (US$ 4 billion) in government guarantees . The Public Finance Management Act distinguishes between three types of public entities. Schedule 1 entities compromise Constitutional Institutions including

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