Tuesday, 22 February 2022 - 60 Second Finance. 1) SAA is set | BankerX Broadcast

Tuesday, 22 February 2022 - 60 Second Finance.

1) SAA is set to get R3.5bn from the SA Government (yes, the same SAA, the same government, and more billions) ahead of a sale and operational takeover by Takatso Consortium which the Department of Public Enterprises insist is not a bailout. Important to note that Takatso Consortium will get a controlling stake of 51% in SAA while govt keeps all the debt and 49%.

2) The Minister of Finance is set to table his Budget on Wednesday, and there’s optimism that it will be more appetizing than what he’s predecessor has been tabling for dinner. Analysts expect some minor tax relief, and for the budget deficit to begin to tighten

3) Much like your boyfriend during the month of Feb, Aveng continues to disappoint. Earnings for the 6 months ended 31 Dec 2021 fell to R53m from R438m in the same period in 2020 and headline earnings fell to 14c per share from 226c per share. The share price didn't like this and closed 4.83% weaker on Monday.

4) Naspers and Prosus shareholders were punished again on Thursday. Tighter tech regulations in China impacted their golden goose Tencent. Both are now down ~42% in the last 12 months