Former treasurer lays bare SAA corruption at state capture commission

Former South African Airways (SAA) group treasurer Cynthia Stimpel is the latest witness to appear at the Zondo commission of inquiry into state capture on Friday.

According to EWN reporter Barry Bateman, Stimpel spoke out against a highly irregular financial deal.

She says she risked losing her job but couldn't keep quiet.

She also revealed that she has been frustrated with some of the operations but she was shut down when she tried to raise her concerns.

Read: 'State capture and corruption remain to be the cancer that needs to be removed'

This is related to SAA approving the appointment of BNP Capital to provide financial advisory services to the national carrier in 2015.

Barry Bateman, Senior reporter - EWN

Stimpel says she tried to question the appointment of BNP to help SAA secure a loan because there were people who are capable who can easily handle the deal but were overlooked.

BNP was set to benefit more than R150m to offer advisory services.

She reported the matter to National Treasury and to the Public Protector as well as the Organisation Undoing Tax Abuse (Outa).

Barry Bateman, Senior reporter - EWN

It appears that it was only Outa that took her seriously and it resulted in Outa seeking an interdict to stop BNP project from going ahead. That was successful but Stimpel found herself at the end of a disciplinary hearing.

Barry Bateman, Senior reporter - EWN

The hearing dragged for more than eight months until Stimpel got tired, took a settlement and left SAA.

To hear the rest of the conversation, listen below:


This article first appeared on CapeTalk : Former treasurer lays bare SAA corruption at state capture commission


Recommended

by NEWSROOM AI
Read More
Trigger warning: Sibling sexual abuse, why it shouldn't be kept quiet

Trigger warning: Sibling sexual abuse, why it shouldn't be kept quiet

Sexologist and sex therapist Dr Eve unpacks an aspect of sexual abuse that is rarely explored.

SAA board ignored advice and picked agency to offer R15bn loan, commission told

SAA board ignored advice and picked agency to offer R15bn loan, commission told

Eyewitness News reporter Barry Bateman shares details on some of the testimony that has come out from the state capture inquiry.

'Ramaphosa's Cabinet only has four ministers who supported Jacob Zuma'

'Ramaphosa's Cabinet only has four ministers who supported Jacob Zuma'

University of Johannesburg research professor Steven Friedman says the president seems to be in a stronger position.

Four major airports to be affected by planned strike

Four major airports to be affected by planned strike

Numsa and Sacca want former South African Airways chief executive officer Vuyani Jarana to return.

Zuks Ramasia is the new SAA interim CEO

Zuks Ramasia is the new SAA interim CEO

EWN reporter Kgomotso Modise unpacks the airline's new appointment after the resignation of Vuyani Jarana.

Sacca wants Ramaphosa to intervene as SAA's Vuyani Jarana prepares to step down

Sacca wants Ramaphosa to intervene as SAA's Vuyani Jarana prepares to step down

Sacca has threatened strike action following news of the SAA group CEO's resignation.

Taxpayers – rich and poor – have poured R55 billion into SAA’s bottomless pit

Taxpayers – rich and poor – have poured R55 billion into SAA’s bottomless pit

The airline wants another R16 billion. Bruce Whitfield interviews Sikhonathi Mantshantsha, Deputy Editor at Financial Mail.

'Jarana was allowed to do at SAA what a lot of CEOs didn't get to do'

'Jarana was allowed to do at SAA what a lot of CEOs didn't get to do'

Mail & Guardian investigative reporter Sabelo Sikiti unpacks the resignation of former state-owned enterprise SAA boss.

Slow demise of SAA has been a long time coming - Outa

Slow demise of SAA has been a long time coming - Outa

The Organisation Undoing Tax Abuse (Outa) says SA needs a vibrant airline industry with viable players contributing to the market.

Only a 'special kind of person' would want to lead SAA and Eskom

Only a 'special kind of person' would want to lead SAA and Eskom

Andrew Woodburn (MD, Amrop Woodburn Mann) discusses the loss of Eskom and SAA’s CEOs and the recruitment of new Chief Executives.

Popular articles
Meet the Black Management Forum's New President

Meet the Black Management Forum's New President

The newly elected president of the Black Management Forum (BMF) is Andile Nomlala.

Read your documents before you sign the deal on your car or house!

Read your documents before you sign the deal on your car or house!

Wendy Knowler, consumer journalist, on the importance of carefully reading your documents when you buy assets.

Finding your way after 15 years with Google Maps

Finding your way after 15 years with Google Maps

Google has not only indexed the internet, but they have also mapped the world

Annual consumer price inflation shot up at a rate of 4.5%  - should we worry?

Annual consumer price inflation shot up at a rate of 4.5% - should we worry?

Annual consumer price inflation increased at a faster rate of 4.5% in January, compared to 4% in December.

 Grand Parade Investments sells its interest in Burger King

Grand Parade Investments sells its interest in Burger King

South Africa's Grand Parade Investments (GPI) Ltd will sell its 95.36 percent stake in the Burger King franchise.

 Missing student Alfa Mpetsheni being held by Shanghai security bureau - mother

Missing student Alfa Mpetsheni being held by Shanghai security bureau - mother

Thuli Mpetsheni says she does not know the circumstances surrounding her son's detainment but it appears his visa has expired.

 Business rescue team 'still looking at possible plan to avoid SAA liquidation'

Business rescue team 'still looking at possible plan to avoid SAA liquidation'

SAA returned to Parliament on Wednesday to brief public finance watchdog Scopa on its state of affairs.

Resign or we will block the budget – Lesotho opposition tells Thabane

Resign or we will block the budget – Lesotho opposition tells Thabane

ABC leader and Lesotho Prime Minister Tom Thabane has announced twice that he will retire with no time specified.

We were acting in the member's best interest - Discovery Health

We were acting in the member's best interest - Discovery Health

Discovery Health CEO Dr Ryan Noach explains why they could not fund a valve implant called a Xen stent for a glaucoma patient.

Blame game as five provinces suffer contraceptive shortages

Blame game as five provinces suffer contraceptive shortages

Stop Stock Outs Project manager Kopano Klass explains the investigation they did to unearth this shortage of medicines.