Reuters reports that the chief executive of South African Airways has stepped down just days after Pretoria guaranteed massive loans for the struggling state-owned airline.
According to Reuters, the government promised last week to guarantee $600 million in loans for the airline, a move that could put further pressure on an already strained national budget.
South Africa's state-owned companies, including SAA and national broadcaster SABC, have come under fire for what critics say is excessive spending of taxpayer money.
Source: Reuters
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