Throwing money at SAA is very definition of madness - Bongani Bingwa

Bongani Bingwa says continuing to keep South African Airways (SAA) as a state-owned entity is pure madness.

He claims it is 'a vanity project', that speaks to the hubris of allowing governments to run what should be commercial enterprises.

Bingwa highlights how the Auditor General Kimi Makwetu was unable to establish the value or existence of assets said to be worth R4.7 billion.

Makwethu said the lack of documentation means that it is difficult to confirm what the airline has and what it does not have.

Are we so short of projects to run that we find ourselves here once again, with yet another turnaround strategy that seems doomed to failure - why are we reinventing the wheel?

Bongani Bingwa, Breakfast Show host

Let it be a warning to all those who think government ownership or control of major assets is the silver bullet to our problems.

Bongani Bingwa, Breakfast Show host

Look no further than SAA. And also consider the impunity with which officials who have been at the helm - either operationally or even as political principals - can simply walk away after a disastrous spell and give someone else a try who inevitably does the same thing later.

Bongani Bingwa, Breakfast show host

Listen to the reference Bingwa makes to support his comment


Recommended

by NEWSROOM AI
Read More
'Dudu Myeni is trying to run' - Natasha Mazzone

'Dudu Myeni is trying to run' - Natasha Mazzone

The former SAA board chair says she’s too ill to fly to Cape Town to testify before the Eskom inquiry.

The Political Desk: Dudu Myeni a 'no-show' at state capture inquiry

The Political Desk: Dudu Myeni a 'no-show' at state capture inquiry

On Wednesday Parliament resumed its inquiry into state capture at Eskom

Dudu Myeni no show at Eskom inquiry

Dudu Myeni no show at Eskom inquiry

EWN's Lindsay Dentlinger says former SAA chair sent text messages to the inquiry's secretary that she wouldn't be at the meeting.

Cuts on domestic routes a promising sign for SAA turnaround - Guy Leitch

Cuts on domestic routes a promising sign for SAA turnaround - Guy Leitch

Aviation expert Guy Leitch says the decision taken under the leadership of new SAA CEO Vuyani Jarana makes commercial sense.

Dudu Myeni's new top post only part-time, says Transport dept

Dudu Myeni's new top post only part-time, says Transport dept

The axed SAA board chair has only been appointed as a part-time special advisor to the minister, the Transport Department claims.

Gigaba denies selling Telkom shares to fund ailing SAA is a done deal

Gigaba denies selling Telkom shares to fund ailing SAA is a done deal

EWN Reporter, Barry Bateman says Finance Minster Malusi Gigaba is adamant that nothing had been finalised for SAA bailout.

Popular articles
 Wealth strategies for small businesses - income or equity?

Wealth strategies for small businesses - income or equity?

Income or equity – what is the difference?

Is the US stock market heading for a crash like the DotCom bubble in 2000?

Is the US stock market heading for a crash like the DotCom bubble in 2000?

The US market has a big impact on all markets and when they get flu, South Africa sneezes.

Anglo American delivers 3.5-billion USD profit, declares final dividend

Anglo American delivers 3.5-billion USD profit, declares final dividend

Anglo American delivered a 2019 profit attributable to equity shareholders of 3.5-billion USD

Discovery Bank gives an update on the health of the new venture

Discovery Bank gives an update on the health of the new venture

Discovery is soothing investors' nerves after a warning earlier this week that it would report a double digits loss.

iPhone upgrade locks Absa clients out of banking app

iPhone upgrade locks Absa clients out of banking app

Absa managing executive customer value management Christine Wu explains why and how you can solve it.

Mo Shaik says his resignation is merely 'technical', not a result of DA pressure

Mo Shaik says his resignation is merely 'technical', not a result of DA pressure

He has dismissed the Democratic Alliance's claims that he was pressured to resign as as a special advisor to Lindiwe Sisulu.

Uber drivers' earnings dropped drastically since 2013 - Competition Commission

Uber drivers' earnings dropped drastically since 2013 - Competition Commission

The observation was made in a preliminary report into land-based public passenger transport by the commission.

City of Joburg libraries shortlisted for international award

City of Joburg libraries shortlisted for international award

COJ Library and Information Services director Nobuntu Mpendulo says they attract the youth by using electronic devices.

Ramaphosa apologises to Malema family for Sona abuse claims

Ramaphosa apologises to Malema family for Sona abuse claims

The president also apologised to South Africans about the way in which the gender-based violence matter was debated.

[LISTEN] Facebook group provides support for parents raising teens

[LISTEN] Facebook group provides support for parents raising teens

Azania Mosaka spoke to admin and media consultant of the page Vanessa Raphaely.