Tag: South African Airways (SAA)

Austerity does not need to mean suffering. Cutting public spending is urgent to address South Africa’s growing debt. Delaying cuts will only worsen debt and interest payments, making future cuts more severe. Reducing spending needn’t harm South Africans, as many wasteful expenses can be removed. In 2023, the Democratic Alliance (DA) estimated that the African National Congress (ANC)-led departments wasted around R40 billion in 2022/23 alone.

In this vidcast, we discuss the BRICS currency announced at the recent gathering of member nations in Russia. We also acknowledge the confirmation that South African Airways is now officially debt-free. And we examine what this development means for the national carrier’s future.

As a result of the collapse of almost every government service and state owned enterprise, South Africans are perforce increasingly seeking ways to avoid or replace government services. State insurers have also failed.

The news that John Lamola will assume the roles of both Executive Chair and CEO of South African Airways (SAA) suggests that the state has not learned the lessons of the past few years regarding the importance of good governance.

In detailing some of the crimes and misdemeanours that enabled state capture, the Zondo Commission’s report is in fact offering office-bearers across business and society a morality tale. In this spirit, the assessment of the performance of the erstwhile Chair of South African Airways, Dudu Myeni, acts as a case study of how important the role of the Board Chair is, and how not to do the job.

The State Capture Report released by Chief Justice Raymond Zondo is a scathing account of collusion between the State and politically connected cronies. The Inquiry took almost four years and cost nearly R1 billion to complete; uncovering the reasons why State-owned entities are performing abysmally with corruption playing a central role in the decay.

The Washington Post recently ran an opinion piece by Colbert I. King about immigrants to America and the remittances they send back to family and friends in their home countries. Mr. King was speaking of immigrants to the United States but this holds some important lessons for South Africa as well.

Government's first duty is to protect the rights of citizens. Instead, ours has prioritised yet another bailout of R10.5 billion for the failed South African Airways (SAA), with a further R6.5 billion in the pipeline. This while citizens die in hospitals lacking basic personal protective equipment, staff and oxygen supplies, and there remains no vaccine on the horizon.

Although the 2020 Medium Term Budget Policy Statement stated its intention to prioritise economic recovery and fiscal consolidation in order to support President Ramaphosa’s economic recovery plan, the reality is that while this budget hit some of the right notes, it did little to instil confidence that the country is on the path to economic recovery.

Democratic Alliance Member of Parliament, Ghaleb Cachalia, who also serves as the party’s spokesman on public enterprises and serves on the Ethics Committee in Parliament, introduced the Public Finance Management Amendment Bill to the National Assembly.