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Gigaba says SAA's Myeni's contract is legal

By: News24Wire      22nd September 2017 Finance Minister Malusi Gigaba has told parliament’s standing committee on finance that South African Airways (SAA) chairperson Dudu Myeni’s extended contract is legal. This after the Companies and Intellectual Property Commission (CIPC) said her extended tenure in September was illegal according... 

Treasury to give SAA R10bn in special appropriation

By: African News Agency      13th September 2017 National Treasury has agreed to give South African Airways a special appropriation of R10-billion by the end of September, director general Dondo Mogajane told MPs on Wednesday. “It will be for R10-billion, we have decided, because that will cover everything,” he said during a briefing on the... 

Mogajane confirms Myeni’s contract at SAA has been extended

By: African News Agency      13th September 2017 The contract of South African Airways chairperson Dudu Myeni has been extended until the company’s annual general meeting, set down for early November, director general of finance Dondo Mogajane confirmed on Wednesday. Mogajane told Parliament’s standing committee on finance Myeni’s term was due... 

Eskom at a sustainability ‘tipping point’, business and labour warn

By: Terence Creamer     8th September 2017 Business and labour raised serious questions on Friday about the sustainability of State-owned electricity producer Eskom in light if its current governance failings, which were now undermining its financial health to the point where government could be force to assist the utility in meeting its... 

Point of no return

By: Terence Creamer     8th September 2017 Hardly a day goes by when there isn’t a new and disturbing headline about governance, or the lack thereof, at one of South Africa’s State-owned companies (SOCs). To be sure, when historians reflect on the President Jacob Zuma-era, the ‘capture for looting’ of the country’s SOCs will be a major... 

SAA to introduce network changes

     31st August 2017 South African Airways (SAA) has confirmed it will introduce network changes on the domestic and regional segments of its route network, as part of its implementation of a new five-year corporate plan that seeks to return the company to financial sustainability in the shortest time possible. "The... 

Don't panic, we are not funding SAA – GEPF

By: News24Wire      31st August 2017 The Government Employees Pension Fund (GEPF) assured its members, pensioners and beneficiaries that it has not received any proposal to help fund South African Airways (SAA). GEPF is Africa’s largest pension fund with more than 1.2-million active members from more than 325 government departments,... 

Brown urges recapitalisation of SA Express amid questions over waste

By: African News Agency      30th August 2017 South African Express CEO Victor Xaba was forced to concede on Wednesday that the loss-making airline did not take firm enough action on irregular spending, after Public Enterprises Minister Lynne Brown reiterated that it needed a cash injection from the State. “Let’s say in all fairness not... 

South Africa mulls merger of three State-owned airlines

By: Reuters     30th August 2017 South Africa's government is considering merging its three state-owned airlines into one entity, and offering a 25% stake of the holding company to a private equity partner, a cabinet minister said on Wednesday. The loss-making South African Airways, its low-cost arm Mango and SAA Express, which... 

It's official: Vuyani Jarana is SAA's new CEO

By: News24Wire      30th August 2017 Newly appointed South African Airways (SAA) CEO Vuyani Jarana has signed his employment contract with the national carrier, spokesperson Tlali Tlali confirmed on Tuesday. “SAA is pleased to announce that Mr Vuyani Jarana has accepted its offer of employment with the airline. 

South Africa pushes Angola to pay debt owed to airline SAA

By: Reuters     30th August 2017 South Africa will press the newly-elected Angolan government to pay R850-million it owes struggling South African Airways (SAA), the finance minister said on Tuesday. The airline runs one of Africa's biggest fleets but is loss-making. SAA is owed a total of some R1-billion in revenue earned in... 

Govt urged to sell loss-making SAA

By: News24Wire      25th August 2017 Government should get out of the commercial airline space and sell the loss-making South African Airways (SAA), according to Cape Chamber of Commerce and Industry president Janine Myburgh. “SAA has become a black hole that is simply consuming the resources of the country, and it would be... 

The real conflict is between truth and lies

By: Riaan de Lange     18th August 2017 The Real Conflict is between Truth and Lies It is 21 hours since the unthinkable has happened, an event which has divided, and is expected to continue to divide, the athletics world for the foreseeable future. It will take the athletics world a considerable time to recover from the effects of the... 

Preparing to sell off the family silver?

By: Riaan de Lange     11th August 2017 The expression to sell or sell off the family silver might not be as well known in South Africa as it is elsewhere in the world. Consequently, the cautionary wisdom to which it alludes to is seemingly lost. The ‘silver’ referenced is actually silverware. It is the silverware of a family, handed... 

Sacci, Outa welcome appointment of Jarana as SAA CEO

By: Creamer Media Reporter      4th August 2017 The South African Chamber of Commerce and Industry (Sacci) and the Organisation Undoing Tax Abuse (Outa) on Friday welcomed the appointment of Vuyani Jarana as the new CEO of South African Airways (SAA). He is the first permanent CEO to be appointed at the airline since 2014.   “He is a person... 

It’s not about improving

By: Riaan de Lange     4th August 2017 'Out of the mouths of babes' is a well-known phrase in the Bible that implies that there is truth and wisdom in the comments and observations of children, who are honest and innocent. I am on the bus with my young son, having just collected him from summer camp. We are travelling through... 

Treasury announces new SAA CEO, completes first three economic ‘action plans’ 

By: Natasha Odendaal     3rd August 2017 Three key deadlines for specific actions within the National Treasury’s new 14-point plan have been met, with the appointment of new South African Airways (SAA) CEO Vuyani Jarana this week marking the third completed task. Jarana, currently Vodacom Business CEO, is set to start once his... 

South Africa’s ‘accelerating’ SOE-guarantee exposure a risk to debt sustainability

By: Terence Creamer     24th July 2017 Rising contingent liabilities in State-owned enterprises (SOEs), together with the recent ratings downgrades pose the main risks to South Africa’s debt sustainability, the Organisation for Economic Cooperation and Development (OECD) cautions in its fifth and latest economic survey of the country.... 

National Treasury’s action plan may not be enough – economists

By: Natasha Odendaal     14th July 2017 Industry is not viewing Finance Minister Malusi Gigaba’s new 14-point plan as likely to stimulate the growth South Africa desperately needs. Rather, economists are viewing it as a group of administrative measures that will only move to stabilise the battered economy. Released on Thursday,... 

Outa welcomes Myeni’s SAA departure  

By: Sane Dhlamini     14th July 2017 The Organisation Undoing Tax Abuse (Outa) on Friday welcomed Finance Minister Malusi Gigaba’s announcement that South African Airways (SAA) chairperson Dudu Myeni would not serve another term on the board.  Her term expires on August 31 and a new board chairperson will be appointed at the SAA... 

Gigaba tables economy action plan, reopens mining charter engagement 

By: Natasha Odendaal     13th July 2017 Finance Minister Malusi Gigaba on Thursday unveiled a series of aggressive planned interventions and action steps to stimulate economic recovery after South Africa’s fall into recession in the first quarter. His address revealed two main desired outcomes – dodge another downgrade and reignite... 

The legal weapons in the ongoing battle against impunity at parastatals 

     5th July 2017 In this opinion article, Dale T McKinley outlines the instruments available within the Public Finance Management Act and the Companies Act to hold nonexecutive directors and executives at State-owned enterprises legally accountable for their actions. It is not as if South Africa needs more nega-... 

The legal weapons in the ongoing battle against impunity at parastatals

     30th June 2017 In this opinion article, Dr Dale T McKinley outlines the instruments available within the Public Finance Management Act and the Companies Act to hold nonexecutive directors and executives at State-owned enterprises legally accountable for their actions 

South Africa needs to find middle ground for electricity conundrum – former EIUG chair 

     29th June 2017 If South Africa wants to prevent its deindustrialisation and find middle ground between the sustainability of State-owned Eskom and the affordability of electricity, a few “holy cows will have to be slaughtered”, former Energy Intensive User Group (EIUG) of Southern Africa chairperson Piet van... 

Companies Tribunal dismisses Dudu Myeni’s application with costs

By: African News Agency      29th June 2017 South African Airways (SAA) chairperson Dudu Myeni’s application to have a compliance notice against her, issued by the Companies and Intellectual Properties Commission, set aside was dismissed with costs by the Companies Tribunal on Thursday. “The respondent [Companies and Intellectual Property... 

Institute of Directors guns for SAA chair, Dudu Myeni 

By: African News Agency      20th June 2017 The Institute of Directors in Southern Africa (IoDSA) said on Tuesday that the South African Airways (SAA) board and chairperson must fulfil their duties at this critical juncture. This comes after the Mail & Guardian last week reported that SAA chair, Dudu Myeni, had recently missed several... 

SAA to implement turnaround plan 

By: Megan van Wyngaardt     20th June 2017 Cash-strapped South African Airways (SAA) has compiled a five-year business turnaround plan, aimed at improving its financial stability, it said on Tuesday. The national carrier is currently plagued by a weak balance sheet, with projected losses of R3.5-billion for 2016/17– a R 2-billion increase... 

Companies Tribunal to hear case on SAA chair Dudu Myeni 

By: News24Wire      19th June 2017 The Companies Tribunal is on Monday set to hold a hearing on whether Dudu Myeni acted in a delinquent manner in her capacity as director of the South African Airways (SAA) board. In March, the Organisation Undoing Tax Abuse (OUTA) and the South African Airways Pilots Association had initially... 

Gigaba announces ministerial meeting on economy, says fiscal consolidation will stay

By: African News Agency      16th June 2017 President Jacob Zuma has called a meeting of key ministers in a fortnight to devise a strategy to spur the South African economy out of recession, Finance Minister Malusi Gigaba said on Thursday. “The president has stressed the urgency of a co-ordinated response, and is convening a full-day... 

GEPF assures its funds are not used to bail out troubled SAA

By: Natasha Odendaal     25th May 2017 The Government Employees Pension Fund (GEPF) on Thursday assured that it was not funding the recapitalisation of ailing national airliner South African Airways (SAA), nor had it been approached to contribute. Speculation emerged last week that the GEPF’s assets will be used, through its fund... 

Solidarity, Hospersa worried about proposed bail-out plans for SAA

By: Megan van Wyngaardt     23rd May 2017 Trade union Solidarity is demanding answers about whether the Government Employees Pension Fund (GEPF) is considering recapitalising “sinking ship” South African Airways (SAA) through the Public Investment Corporation (PIC), as the union’s members have a direct interest in the proper management... 

Zuma could be called in to get SAA money back from abroad – Deputy Finance Minister

By: African News Agency      18th May 2017 If all else failed, National Treasury might enlist the help of President Jacob Zuma to secure the repatriation of South African Airways funds from fellow African states, Deputy Finance Minister Sifiso Buthelezi told MPs on Wednesday. Buthelezi told Parliament’s standing committee on finance the... 

SAA wins another air freight award

By: Keith Campbell     11th May 2017 In some good news for national flag carrier South African Airways (SAA), the company’s air freight division, SAA Cargo, has been voted the Best Cargo Airline – Africa at the 2017 Air Cargo Airline of the Year Awards. The voting was done by readers of “Air Cargo News”. “We are very proud to have... 

SAA makes CFO appointment permanent

By: Megan van Wyngaardt     10th May 2017 South African Airways (SAA) has appointed Phumeza Nhantsi as CFO, effective May 1. Nhantsi had acted in the position since November 2015, after it was left vacant with the departure of Wolf Meyer. 

MPs grill Gigaba on radical economic transformation

By: News24Wire      9th May 2017 Finance Minister Malusi Gigaba on Tuesday said radical economic transformation should be neither feared nor suppressed, as South Africa has a legacy of left-behind people. “Whatever the name you call it – accelerated growth, radical economic transformation or inclusive growth, we want to address... 

Labour Court deems SAA interim order during cabin crew strike final

By: African News Agency      4th May 2017 South African Airways (SAA) said on Wednesday that they had successfully argued at the Labour Court to have an interim order granted during the cabin crew meal strike as a final order. About a week ago SAA cabin crew members embarked on a one day strike because they felt the $130 they were... 

SACCA to file review against SAA interdict

By: African News Agency      27th April 2017 Despite operations at South African Airways(SAA) returning to normal the South African Cabin Crew Association(SACCA) said on Thursday that their legal team was working on a review of the interdict against them. On Wednesday around 200 flight attendants were gathered outside the SAA head office... 

SAA granted interdict against striking cabin crew

By: News24Wire      26th April 2017 The Johannesburg Labour Court has granted South African Airways (SAA) an interdict against striking SA Cabin Crew Association (Sacca) members. Michael van As, for SAA, appeared briefly in the court before the matter was postponed until June 23. 

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