Gordhan on SAA majority stake sale: ‘Confidentiality doesn't mean secrecy’
Though the private equity sale of SAA to the Takatso Consortium came under heavy scrutiny, Gordhan said there was nothing untoward about the Public Enterprises Department concealing certain information.
FILE: Minister of Public Enterprises Pravin Gordhan. Picture: @PresidencyZA/Twitter
CAPE TOWN - Minister of Public Enterprises Pravin Gordhan says there is no secrecy around the private equity sale of a majority stake in South African Airlines (SAA).
He said that confidentiality didn’t mean secrecy, that the deal was currently at a sensitive stage, and that certain documents and information couldn’t be released publicly, even through Parliament.
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Gordhan said he also agreed with Parliament's legal advisor that there were no signs of corruption in the ongoing sale of SAA to the Takatso Consortium.
He said there was nothing untoward about his department's approach in the transaction and it had no choice but to keep certain things away from the public eye.
Gordhan briefed the media on Wednesday on the prolonged private equity sale of SAA to the Takatso Consortium, a deal that came under heavy scrutiny.
“Confidentiality doesn't mean secrecy and lack of transparency is not what we are talking about.”
He said information couldn’t end up in the hands of SAA's competitors.
“This is a live transaction. It's in a commercial setting. It's a setting where there are competitors who use the information.”
The public enterprises oversight committee meanwhile, said it was at the business end of its investigation into Gordhan's role in the deal and would be reporting back to Parliament in due course.