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Government to buy Sunspace

12 Oct 2012

Cabinet has given the green light to the purchase of microsatellite manufacturer Sun Space and Information Systems (Sunspace) with the aim of incorporating it into the South African National Space Agency (Sansa).

At Thursday's post-Cabinet media briefing‚ Pubic Service and Administration Minister Richard Baloyi said: "Cabinet received and accepted the outcome of the investigation into acquiring a majority stake in Sunspace."

Baloyi said Cabinet had approved that Sansa enter into negotiations to explore the absorption of Sunspace into the space agency.

He said this would ensure the strengthening of satellite and manufacturing capability within Sansa.

Former Science and Technology Minister Naledi Pandor first mooted the possible purchase of Sunspace more than two years ago. In May she said government had set aside R100m for this purpose.

Sunspace emerged from the University of Stellenbosch's department of electronics and electrical engineering and built and launched the country's first satellite in 1999.

The company's current shareholding includes Stellenbosch University Investment Trust‚ various individuals‚ and its black economic empowerment shareholder is the Dusty Moon Investment group.

Source: I-Net Bridge

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