Comrades,
The SAA board chairman Jakes Gerwel must explain to the cabinet what sort of
details were endorsed by public enterprise minister Brigitte Mabandla in
reaching a confidential financial settlement with its former CEO Khaya Ngqula
when serious allegations of misconduct against him were still investigated.
As tax-payers we have a right to know how the board arrived at such a dubious
deal, considering that Ngqula is on record denying all allegations levelled
against him. In 2001, former Transnet MD Saki Macozoma defended the
remuneration package negotiated for then SAA CEO Coleman Andrews without
seeking counsel from cabinet yet he delivered a loss in earnings.
These precedented financial settlements do not only undermine corporate
governance issues in the country. But perpetuate unlawful practice of paying
out corrupt executives to resign in order to ward off allegations being tested
in a court of law and escape any possible prosecution.
It's for this reason that the controversial golden handshake awarded to Ngqula
begs for investigation. The decision seems to have been taken with a clear
conscience to protect him from prosecution or driven by the 1996 class project
agenda of fiscal dumping in order to benefit later in equity interest allocated
to a black empowerment consortium. This includes year after year bankrolling of
the airline with tax-payer's money which management misuses to incur losses as
a result of the board negligence.
While other parties are fuming over the SAA board decision to offer Ngqula
impunity pending an investigation into allegations of tender irregularities,
conflict of interest and/or corruption. The deafening silence of the so-called
'custodian of moral law' (COPE) - or masters of selective justice - is not
really surprising.
Actually no amount of spin will make the multi-million rand settlement reached
between the board and Ngqula disappear in the thin air.
Morgan Phaahla,
Ekurhuleni
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