[LISTEN] Outa outlines the SAA debacle over BnP
Outa's Ivan Herselman says SAA’s chairperson Dudu Myeni is going to end up in jail if she pays a R50m cancellation fee to BnP Capital.
CAPE TOWN - South African Airways (SAA) Chairperson Dudu Myeni intends paying a R49,9 million cancellation fee to BnP Capital, according to weekend reports.
This comes after the airline had to cancel the deal that would have seen SAA pay the "boutique financier" R256 million to facilitate loans.
Civil group Organisation Undoing Tax Abuse (Outa) revealed that BnP Capital had its Financial Services Board (FSB) licence revoked and was misrepresenting its state of affairs.
Outa's Ivan Herselman says that Myeni would be contravening the Prevention and Combating of Corrupt Activities Act if she were to pay the cancellation fee.
Listen to the SoundCloud above for more details.