According to the information received from SOCs:
ALEXKOR:
Alexkor had good returns from the sale of diamonds in the 2022/2023 reporting period and there are sufficient reserves to continue operating in the next 12 months without reliance from the fiscus.
DENEL:
This plan and actions were underpinned by a recapitalisation programme from Government and Denel is currently executing this plan and will not require any additional bailouts from the Government.
SAFCOL:
SAFCOL has implemented cost curtailment measures since the start of the second quarter. Through this, revenue-generating and compliance expenditure is prioritised. The impact of these cash preservation measures is closely monitored on a monthly basis. Due to this intervention, SAFCOL’s total expenditure at the end of September 2023, was 16% below budget and continues to show positive variances in the forecast for the remainder of the year.
SAFCOL has no government guarantees in place and relies on the robustness of its own balance sheet. Currently, there are no indications that any bailouts would be necessary in the foreseeable future.
Remarks: Approved / Not Approved/Comments
Jacky Molisane PJ Gordhan, MP
Acting Director-General Minister
Date: Date: