UK-based global bank Standard Chartered will stay the course and continue to provide funding to some state-owned enterprises. Earlier this year the National Treasury flew to SAA's rescue with an emergency bailout to help the airline repay a R2.2-billion loan to Standard Chartered, after the bank refused to extend the loan facility. Finance Minister Malusi Gigaba reshuffled SAA's board this week, with Dudu Myeni finally exiting as chairwoman, as pressure for her removal mounted from a consortium of lenders to which the airline owes billions. Despite this, Standard Chartered will continue doing deals with Eskom, SAA, the Land Bank and the Development Bank of Southern Africa, in line with its strategy to remain invested in Africa. "Whether that be through funding, through financial markets, through risk management [or] through access to debt capital markets through the Asian investors, there's a critical role that we can play for a lot of them," said Chris Egberink, Standard Chartered'...
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