Parliament committee can't positively say failed SAA-Takatso transaction was above board
The committee on Wednesday resolved to ask the SIU to probe the failed majority stake sale, despite Public Enterprises Minister Pravin Gordhan and his department insisting the deal was above board.
An Airbus A340-642 operated by South African Airways takes off from JFK Airport on August 24, 2019. Picture: Bruce Bennett / Getty Images via AFP
CAPE TOWN - The portfolio committee on Public Enterprises in Parliament says it can't say for sure that the failed South African Airlines (SAA) and Takatso transaction was above board.
The committee on Wednesday resolved to ask the Special Investigating Unit (SIU) to now probe the failed sale of 51% of SAA to the Takatso consortium.
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However, Minister of Public Enterprises Pravin Gordhan and his department insisted the deal was above board and provided committee chairperson Khaya Magaxa with documents detailing the process.
The Public Enterprises committee said the cancelled SAA transaction raised more questions than answers.
Magaxa said they never received any details on the cancellation from the minister.
“In view of this the committee cannot say that the SAA-Takatso transaction was above board.”
He said of concern was the allegation from former director-general Kgathatso Tlhakudi that his signature was forged in documents approving the selection of Takatso.
“I think this committee should seriously consider referring this matter to the SIU for further investigation.”
But Eyewitness News is aware of a letter to Magaxa by Gordhan where the minister insisted that the bill was above board.
Gordhan also referred to Parliament’s legal advisor’s conclusion that there was no corruption in the transaction.
Magaxa and the committee were also provided with memorandums signed by Tlhakudi on the deal and the selection of Rand Merchant Bank as the initial transaction advisors.
The documents stated that Takatso’s proposals received favourable consideration from the department’s evaluation committee led by Tlhakudi.
They also noted how the Auditor-General audited the transaction and even recommended the department develop a framework to dispose of the majority shares.