Zondo Commission hears how Dudu Myeni made unilateral decisions at SAA

South African Airways (SAA) former chief financial officer Phumeza Nhantsi appeared before the Zondo Commission of inquiry into allegations of state capture.

According to EWN reporter Bonga Dlulane, Nhantsi detailed a time in 2015 when the then board chairperson Dudu Myeni was making executive decisions.

This is the time when the airline was seeking a R15m loan in order to restructure the entity.

Read: Dudu Myeni gets kicked off SAA board

The Free State Development Corporation offered to source the funds at 4% interest rate and there was another company called Seacrest Investments which offered a 5.8%.

Bonga Dlulani, Reporter - EWN

Nhantsi said that Dudu Myeni told them after recommendations that they have made that Seacrest Investments was the best option to go with because they could source the funds privately.

Bonga Dlulani, Reporter - EWN

Read also: South African Cabin Crew Association urges SAA to reinstate Vuyani Jarana

She said that it was weird how the board kept on interfering with all processes, with all legal advice and the SAA's processes on how to procure money because Dudu Myeni was making her own decisions.

Bonga Dlulani, Reporter - EWN

To hear the rest of the conversation, listen below:


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