SAA’s Phumeza Nhantsi not going to let finding of gross financial misconduct rest
Suspended South African Airways (SAA) chief financial officer Phumeza Nhantsi has hinted at further action following the finding by an internal disciplinary inquiry that she and suspended former CEO Musa Zwane were guilty of gross financial misconduct, negligence and dishonesty. The chairperson of the inquiry, Nazeer Cassim SC, recommended that Nhantsi and Zwane be summarily dismissed by SAA for their actions in relation to a tender with BNP Capital to source R15bn in debt consolidation funds at a success fee of R256m The deal was aborted after media reports. SAA could have undertaken the deal for R85m. Nhantsi has denied the allegations, which she says have no foundation. She said in a statement issued on Thursday that "because this matter is far from over, I believe it is inappropriate to make any further comment at this time. "At no time did I engage in conduct [that] I believed to be in violation of SAA corporate governance policies. At all times, I faithfully carried out my dut...
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