A Retooled SAA Distances New Board From A ‘shameful past’

The newly released report does indicate an astonishingly shameful past for SAA, SAX and SAA Technical, including the well-documented rule of fear of Dudu Myeni, the former Chairperson of SAA’s board, allegedly the premier agent of the jaw-droppingly massive corruption in every corner of SAA.

A statement by SAA says: “The Board has fully supported the Commission during its work and is currently reviewing the report systematically.

“Guided by appropriate legal counsel, the Board will cooperate with, and support law enforcement agencies in their pursuit of prosecutions and, where necessary, will institute internal investigations and disciplinary processes with the aim of cleaning the company of all vestiges of its shameful past as exposed in the Commission Report.

“Consonant with its fiduciary responsibility and legal obligations under the Public Finance Management Act, the Board will take whatever actions are required to recover any assets lost or monies misappropriated from SAA.”

The airline’s Interim Board was appointed on December 8, 2020, and, according to the statement, is constituted of professionals who were specifically selected on the basis of their non-association with the past of SAA.

“The principal focus of the board of SAA is to guide, advise and oversee the strategic management of the carrier as it emerges out of business rescue towards a sustainable and profitable future. This is underpinned by a driving ethos of safety and professionalism that always puts the customer first. This is also being done as SAA prepares to play a vital role ahead of the formal acquisition by a strategic equity partner,” the statement said.

Happy New Year! Our estimates for the 2021 venture funding in Africa is ready. But while we spruce up the finer details, here is a snapshot of what the first week of 2022 got the African startups.