SAA’s business rescue practitioners are under fire for raking in over R30 million in fees without producing a plan to save the broke airline, which has lost almost R16 billion in the past three years.
The committee also heard that the national carrier had no money to pay its 4 708-strong workforce this month. Unaudited financial statements for the past two years presented to the committee show that the airline posted over R5bn last year, about R5.5bn and R5.3bn in 2018 and 2017, respectively. He said there was an unhealthy working relationship between business rescue practitioners and the government, which is not in SAA’s interest, and that Matuson and Dongwana and Gordhan were singing from two different hymn sheets.
MandisaMashego SAA has A380 in their fleet or the picture is photoshopped 🤔🤔🤔
The worst devils are those entrusted with political oversight by the electorate but all they choose to do is to look for their turn to eat. Pravin reports to a political party that has made sure SAA keeps wasting taxpayers all these years
ntsikimazwai Jamnandas ke Kgodumoduno fela tje
ntsikimazwai Hahahahaha bazothi Dudu Myeni 😂😂😂
Ramaphosamustfall
Isnt that wastefull expenditure to the last degree? Who signed it off? Is that person still having a job? TreasuryRSA tito_mboweni PresidencyZA DPE_ZA
bambo_mukunda
OUTASA afriforum Are you aware of this mess?
Aloota continua
Love dat. Thats what they call 'no sweat'
Paraffin
They paid themselves R30 mil for doing nothing and now say there is no money to pay workers. Jamnandas and his people must account
Their plans were repeatedly stymied.
Thuma bona team
Oh, Wait! They still need R7.5bn more to finish their work as mandated...🤣🤣🤣🤣🤣
But that was the plan. Still surprised what the ANC does? SHOCKER!!!
Polly12346 They wanted to do the correct thing by liquidating SAA but pravingordhan stop them and fire them. Its government fault that they got R30mil
Hee Banna 😳😳😳
They rescued their own business, not SAA (which is a lost cause)
Where is that dailymaverick journalist that wrote an article about Ace today to give us his analysis on this matter, let hear his views about 30 million lost without producing any work.
PublicProtector AdvBMkhwebane This tweet serves as notice of my complaint to your office. Please investigate alleged abuse of my tax. The task was, produce a plan. No plan was produced, but the brp was paid! How does that happen.
Will media call for Pravin's head? Will Cyril finally grow a pair and fire Jamnadas? Find out on the next episode of Steal the State!
Thank you to Cyril, Pravin and Tito
PublicProtector
Will Gordhan finally take responsibility Or was it purposeful in the first place?
Dissolve this bullshit already
Donation.
MandisaMashego When is Pravin getting fired? Failing everywhere; the less said about Eskom the better
Jamnadas😈
Give them looters a Bell's 🤣👏🏿👏🏿.
MandisaMashego There is no one single crises that does not produce millionaires 💰💲💵 Money Power changes hands 👑 Some crises are even cooked for friends & the who’s who!!!
Business rescue has timeliness in place... But here they didn't comply with them.... There is no accountability
Why am I not surprised.
This fraud begs the attention of the PublicProtector
It was too stuffed, they couldn't produce a plan.
Wherever there is Pravin there is wasteful and fruitless expenditure... Didn't Treasury pay millions for Financial Information Systems that never materialised.
AfricanChildSo1 Ramaphosa's friends 🙄
More money down the drain. It's the one thing the government is good for.
Am not surprised
There was failure to define strategic objectives & benefits to the country, operating the airline, post apartheid. Business strategy & practices in past were unsuited to current environment Imperative to streamline the operation for efficiency & survival.
SAA will never ever fly the A380, not in a million years. So whatever the dream is, dream on.
They know SAA as one of the big fund house so they are not wrong at all
Lol
JJTabane samkelemaseko bofetho please call Pravin Gordhan to account for billions were spent on business rescuers, didn't bear fruits Cc _AfricanSoil IndWorldThinker uLerato_pillay mmodiba10
And how is Gordhan still a minister?
Minister Joshua Door must take full responsibility on this one,those practitioners were there just to make money amd tell the nation that SAA must sold and nothing else.
When unions complained about this BSP at the onset they were made to appear as if they knew what they were talking about, even when they came with solutions on how the process should unfold, but our government didn't listen and went ahead with this BSP!!
We want our money back & Jamnandas fired for failing our SOEs period
He doesnt need one. Read the Companies Act.
When Bathabile was messing up at SASSA you came for her but nothing on your beloved Pravin! We see you.....
If true, the scams just keep coming. It’s like we released greedy Piranhas.
Project Management at its worst. No progress reports, no business plans in place. What were their Terms of Reference, milestones, etc
Hectic! A whole R30m!
And ppl were called RET brigades when they spoke against this crap
Possibly AG can check where funds went.
Lol... they so clever...
Thank you Jamnandas exposed
BlessingsRamoba
Pravin is the problem here, but people don't want to have that conversation.
the_smme Let them pay back the money. Bloody useless
Public protecter must investigate asp
It's a mess. I am drained
LEN4Masilela Viva Ramaphosa Viva
And to think that R30 million could've gone such a loooong way for poor people.. Yeses.
KhandaniM Arrest those ppl
So Jamnandas hired guys with no track record of having turned around an airline, with no performance contract or KPIs and entrusted them with R10 billion which has all been squandered in less than 5 months with nothing to show for it. Then paid them about R8m per month. Ay!
KaraboRiley Yadliwa le mali 🙆🏾♂️
Please show me one BRP who actually tries to turn a business round. They are exceptional at asset stripping and ensuring the last heart beat of the business will die and they walk out with the biggest money. Rather liquidate than BR better return for investors
_SaveSa- Save South Africa are dead, here is Pravin waisting our money!!! We demand answers and after he get fired!!!
It doesn't matter, its not Dudu Myeni or Guptas
What's new🤷♀️
Jamnadas appointees. He must personally pay back the money.
PRAVINMUSTGO
tebza_kal South africa is such a joke. Business rescue for what exactly🤦♀️
Did they present Progress Reports to get paid? Who approved these payments?
Pravin is dangerous
Waze wasenza u Jamnandas
errolbsk come this side baba
Just take a look
IndWorldThinker Akubizwe uPP
With full Blessing if Mr Ramaphosa and Mr Pravin Gordhan. BRP didn’t call themselves, they didn’t appoint themselves. Pravin and Cyril must take responsibility for this stupid mess. CORRUPT SA media would ne fuming if it was Zuma and Gigaba involved. Toxic Racist Country!
SAA ba e loile
ZUMA!!
PublicProtector please investigate this
Commission of enquiry loading.
Kindly tell that to Pravin and Cyril, and to yourselfs (media), and stop boring us! They and you were hell bent to auctioning this state asset at all cost! This is the cost.... (excluding the R5 billion loss) Please, stop boring us!
Why is Gordhan not taking these business rescuers back to the court who appointed them? Or maybe he is afraid.
Under new dawn leadership SA is a crime scene of white ppl
If they dont have a name we already know
It's a new dawn
IndWorldThinker Someone, somewhere will link this looting by Jamnandas and this BRP to PresJGZuma 😂😂😂
Intersting. But they want to Suck Workers. Instate of Saving they are Continuing Spending
Imagine the whole R30m raked by criminals, just like that & the society must fold arms🤔🤔🤔. A clear case of theft must be opened.
And then someone will tell you that the unemployed should not get a grant. When our tax contributions to fiscal is being squandered like this.
CoruscaKhaya I bet you its a white company who will not face any consequences. Imagine the outrage if it was Sbani sbani Sithole, Dube or Thato Business rescue Practitioners. PresidencyZA CyrilRamaphosa tito_mboweni Julius_S_Malema AdvoBarryRoux Sentletse danielmarven ThabisoTema
Some folks are lucky ... go in messup get out with R30m
Firstly, why were they appointed in the first place if there was no plan? I'm sure if they were connected to the man from Nkandla, the reporting wouldn't be the same. Who should be accountable for this?
Hired and recommended by Pravin Gordhan to do his dirty jobs Agenda: Privatization
Business Business Latest News, Business Business Headlines
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