Jb magwaza
SAA board chair Magwaza resigns
The public enterprises minister announced the resignation during his budget vote on Thursday.
In addition to the money needed to fund its turnaround plan, the airline also has to pay its lenders R9.2 billion by March.
Wednesday’s meeting was originally scheduled to be closed to the public and the media, which is not the usual practice when the airline presents its quarterly financial reports.
MPs wanted to know if there’d been consequences for theft & fraud made possible by weak security and stock-control systems. SAA board chairperson says they are still receiving tip-offs about wrongdoing.
South African Airways (SAA) board chairperson JB Magwaza admits the airline has serious governance problems and a lack of capacity and skills.
Finance Minister Malusi Gigaba confirmed new members have been appointed to the board and that Dudu Myeni has been replaced by JB Magwaza.
Details of the reshuffle emerged on Wednesday night, however, the national carrier wouldn’t confirm or deny the claims.