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
[WATCH] Guy eye-rolls after girlfriend takes selfie, has social media talking

[WATCH] Guy eye-rolls after girlfriend takes selfie, has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

'The problem is incompetent SAA management staff and thieving'

'The problem is incompetent SAA management staff and thieving'

SAA Pilot's Association former chair, Captain Piet Taljaard says the core does all the work while management is clueless.

Schools don’t teach personal finance - how to raise a future millionaire

Schools don’t teach personal finance - how to raise a future millionaire

Personal finance expert Warren Ingram (Galileo Capital) on how to raise financially free children.

What is better - money in the bank or investing in shares?

What is better - money in the bank or investing in shares?

Personal finance expert Warren Ingram offers a definitive answer with an explanation ordinary people can understand.

How to retire while you’re still young(ish)

How to retire while you’re still young(ish)

If you do things differently, it’s possible stop working far earlier than you ever thought possible, says Warren Ingram.

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

[LISTEN] Steinhoff explained: 100 times more looted in Steinhoff saga than VBS

Steinhoff’s Web of Deception: An Explainer with Financial Mail journalist Warren Thompson.