25 April 2018

South Africa: Dudu Myeni's Ghost and SAA's Financial Turmoil Emerge At Scopa


The ghost of Dudu Myeni's tenure at the helm of the board of SAA continues to hang over the national airline. And a litany of lack of internal audit capacity, haphazard contract management, gaps in procurement policy, dubious governance controls and financial mismanagement emerged when SAA's new executives and board appeared on Tuesday before Parliament's watchdog on public spending, the Standing Committee on Public Accounts (Scopa). SAA got a qualified audit for the financial year ending 31 March 2017 - a verdict of what can happen when politics trump governance within easy reach of the national purse.

SAA is one of those State-owned Entities (SoEs) like Eskom that has been haemorrhaging cash amid governance and administrative turbulence under a series of board and executive appointments that read more like a who's who of political connectivity. Like the power utility, the national airline has received billions of rands from government. While Eskom has been described as a significant "risk" to South Africa's economy due to the R350-billion of government guarantees, the financial turmoil at SAA last year cost taxpayers R10-billion from the national coffers....

South Africa

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