Government is to acquire a 55 to 60 percent share in the local space satellite company, SunSpace.
"Cabinet approved in principle that government acquires an equity share of between 55 and 60 percent... in order to retain South Africa's national space capabilities," Government Communications (GCIS) said in a statement.
The ministers of finance, trade and industry, and science and technology would "finalise the most prudent funding model for the acquisition of the equity deal", it said.
SunSpace describes itself as "a provider of high-performance small- and medium-sized satellites and related systems and solutions to the local and international aerospace market".
It has been involved in a number of space programmes, including the design, development and manufacturing of South Africa's SumbandilaSat microsatellite.
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