Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: The Aubrey Masango Show
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00

Home
arrow_forward
Politics

Scopa wants breakdown on how money given to SAA under business rescue was spent

19 May 2020 7:25 AM
Tags:
SCOPA
SAA
SAA business rescue
Business Rescue Practioners
Chairperson Mkhuleko Hlengwa says the breakdown that has thus far been given is very generic and needs more detail.

Parliament’s Standing Committee on Public Accounts (Scopa) wants a proper breakdown of how the money given to South African Airways (SAA) since it was placed under business rescue was spent.

Trade unions at the South African Airways (SAA) are calling for a forensic audit of all the expenditure since the appointment of the business rescue practitioners.

RELATED: Trade unions want SAA business rescue practitioners audited

The unions say business rescue practitioners are charging exorbitant fees yet they have not delivered on their mandate.

Africa Melane chats to Scopa chairperson Mkhuleko Hlengwa to give more insight on the matter.

The issue is that the business rescue practitioners have become accounting officers of the entity. They have to account for operations and what happened with the expenditure and so on. We need a breakdown of the R10 billion as on Friday the breakdown was very generic.

Mkhuleko Hlengwa, Chairperson - Scopa

He says the two business rescue practitioners between themselves have earned R30 million for their services in the past five months.

The business rescue practitioners should have completed their world at the end of march and we have still not received their business rescue plan instead they have applied for an extension.

Mkhuleko Hlengwa, Chairperson - Scopa

The business rescue practitioners have been given a deadline of 26 May to come up with a plan on the airline will be dealt with, he says.

Listen below to the full conversation:


19 May 2020 7:25 AM
Tags:
SCOPA
SAA
SAA business rescue
Business Rescue Practioners

More from Politics

Cyril Ramaphosa

'There has been some bizarre lockdown decisions, slow response on social relief'

25 May 2020 9:21 AM

Political analyst Lukhona Mnguni looks at the announcement of moving to Level 3 and the politics around the lockdown.

Share this:
Read More arrow_forward

president-cyril-ramaphosa-24-maypng

Level 3 from 1 June: Exercise hours relaxed, alcohol ban lifted, but no ciggies

24 May 2020 8:17 PM

President Cyril Ramaphosa announced in an address to the nation that SA will move down to Level 3 lockdown from 1 June.

Share this:
Read More arrow_forward

200330-ramaphosa-edjpg

[WATCH] President Cyril Ramaphosa addresses an anxious nation

24 May 2020 5:00 PM

The President has delivered a lockdown update - listen to his explanation of the move to Level 3 from 1 June.

Share this:
Read More arrow_forward

classroom covid-19 coronavirus mask school

Natu teachers 'not returning' to school on Monday: 'We can't gamble with lives'

24 May 2020 1:12 PM

A survey by teacher unions shows that 92% of SA's schools are not ready and safe to re-open says Natu's Cynthia Barnes.

Share this:
Read More arrow_forward

Cyril Ramaphosa

President Ramaphosa to address the nation on Sunday

23 May 2020 9:13 PM

Presidency says he will tackle developments in South Africa’s risk-adjusted strategy to manage the spread of COVID-19.

Share this:
Read More arrow_forward

police-altercation-with-woman-in-strandpng

Strand arrest: Probe underway after fresh incident of police heavy-handedness

23 May 2020 11:57 AM

A video shot in the Western Cape shows an officer dragging a mask-wearing woman to a police van, apparently during exercise hours.

Share this:
Read More arrow_forward

Price money consumer groceries

'Stimulus package will benefit businesses that were doing well before COVID-19'

22 May 2020 8:52 AM

Economist Xhanti Payi bemoans how red tape impacts the informal economy.

Share this:
Read More arrow_forward

agriculture-farming-tractor-black-farmerjpg

'If we want to keep SA food secure it is critical to keep Land Bank alive'

21 May 2020 7:38 AM

Agricultural economist Andrew Makenete and Scoa's Sfiso Buthelezi reflect on the bank's request of R22 billion from Treasury.

Share this:
Read More arrow_forward

cyrilgif

Ramaphosa meets with church leaders and political parties to discuss COVID-19

20 May 2020 12:55 PM

Different political party leaders as well as a church leader reflect on the meeting held with the president.

Share this:
Read More arrow_forward

empty-school-desk-chair-classroom-grade-learning-education-teaching-pupils-123rf

DBE adamant that it would be ready for pupils to return to school on 1 June

20 May 2020 8:09 AM

Naptosa president Basil Manuel and DBE director-general Mathanzima Mweli weigh in on the phased reopening of schools.

Share this:
Read More arrow_forward