Will the government do a Telkom at South African Airways? That’s what all South Africans should be hoping for after Dudu Myeni’s iron grip at SAA has at last been loosened, with Finance Minister Malusi Gigaba removing her as the airline’s chairwoman, along with deputy chairman Tryphosa Ramano and five other board members. Crucially, the new incumbents are credible and experienced businesspeople, not Gigaba or Jacob Zuma lackeys. Not that Gigaba had much choice in the matter. The banks had him over a barrel. They had refused to roll over billions of rand worth of maturing loans to SAA if governance and management at the airline was not fixed. The new SAA chairman, JB Magwaza, his deputy, Nolitha Fakude, and the other new directors are people of stature, with reputations to lose. They surely would not have agreed to put their names forward without at least some assurance that the new board would have the freedom to do whatever needs to be done to save SAA. That raises the prospect tha...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.