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Cabinet decision perplexes satellite company, casts shadow over its future

The future of South Africa’s specialist microsatellite and related systems manufacturing company Sun Space and Information Systems (Sunspace) is now uncertain, following the publication, on the government information website on Thursday, of the Statement on the Cabinet meeting held the previous day, Wednesday October 10, 2012. Recently, then Science and Technology (now Home Affairs) Minister Naledi Pandor confirmed that, back in March, the South African government had decided in principle to take a majority equity stake in the company. “This in-principle decision was subject to the presentation of a business case highlighting (i) the value proposition of the equity transaction to government and (ii) how SunSpace would be sustained over the long-term,” she explained. “For this purpose two studies were commissioned.” The Cabinet meeting statement released on Thursday includes a short section entitled “Outcome of the investigation into the proposal for Government to acquire an equity stake in Sunspace (Pty) Ltd”. This passage reads, in full: “Cabinet received and accepted the outcomes of the investigation on government acquiring a majority equity stake in Sunspace. Cabinet approved that negotiations be entered into with South African National Space Agency (SANSA) – an entity owned by State – to explore the absorption of the core capability of Sunspace into SANSA. This will ensure the strengthening of satellite and manufacturing capability within SANSA.”

Authors: Dubai Engineering Jobs Admin

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