Pravin Gordhan confirms termination of SAA and Takatso deal

Public Enterprises Minister Pravin Gordhan has announced that SAA’s deal with strategic equity partner Takatso has been terminated.

Parliament will finalise the investigation into Minister of Public Enterprises Pravin Gordhan and submit its report to the Speaker, Nosiviwe Mapisa-Nqakula.

INVESTIGATION INTO PRAVIN GORDHAN AND SAA SALE NEARS COMPLETION

Reported by IOL Chairperson of the public enterprises committee, Khaya Magaxa, stated that the committee will meet next week to conclude the investigation.

The committee took up the case when former Department of Public Enterprises Director-General Kgathatso Tlhakudi accused Gordhan of corruption in the SAA sale to Takatso.

The meeting with Gordhan was delayed for months, and later, the minister requested it be held privately due to sensitive deal information.

In a committee meeting, Magaxa informed members to get ready for the final discussion on the issue. He mentioned the investigation on allegations against the minister by Tlhakudi, reported IOL

Originally planned for tomorrow or Friday, the meeting got rescheduled by the chair of chairs (Cedric Frolick) for a physical session, so it will happen next week.

Magaxa mentioned committee members need to wrap up and submit the report to Mapisa-Nqakula. The SAA deal has faced controversy for years.

Parliament was asked to investigate if there were any irregularities in the deal.

However, Gordhan denied any wrongdoing, asserting that the process was transparent and lawful.

GORDHAN HAS ANNOUNCED THAT SAA’S DEAL HAS BEEN TERMINATED

Pravin Gordhan announced the termination of SAA’s deal with strategic partner Takatso, dealing a blow to President Cyril Ramaphosa’s privatization efforts, despite resistance from some within the ruling party.

Business Day reported that Gordhan said in a candidate meeting that there was an mutual agreement should be terminated as there is no clear path forward.

The deal, if successful, would have advanced Ramaphosa’s reform agenda, aiming to attract more private investors in various sectors like power generation and rail transport. The government aimed to use this transaction as a blueprint for selling stakes in struggling state-owned enterprises. reported Business Day.