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

9 March 2018 8:27 AM
Tags:
SAA
SAA bailout
Auditor General Kimi Makwetu
madness
Breakfast Show host Bongani Bingwa questions why SAA is still a state owned enterprise and not on business rescue.

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


9 March 2018 8:27 AM
Tags:
SAA
SAA bailout
Auditor General Kimi Makwetu
madness

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