NO PROVISION is made in the 2016-17 budget for more guarantees for South African Airways (SAA), which is teetering on the brink of insolvency and is in desperate need of a cash injection.

And the South African Post Office has been allocated an amount far short of the R2.5bn-R3.5bn it says it needs.

Finance Minister Pravin Gordhan said he and Public Enterprises Minister Lynne Brown had agreed to explore the possible merger of SAA and SA Express, and to look for a potential minority equity partner.

Ms Brown is also discussing accelerated private-sector participation in ports and freight rail with Transnet. State-owned entities that were not necessary would be phased out.

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