South Africa News

SAA finally submits outstanding financial statements dating back 4 years

South African Airways (SAA) has finally submitted its outstanding annual financial statements to Parliament.

But the Auditor General (AG) has given SAA disclaimers for all the years in question, saying the airline remains a concern.

SAA and the office of the AG briefed Parliament’s public enterprises committee on Wednesday on the review of the outstanding financial statements from 2019 to 2022.

While members of the committee welcomed the audited financial statements, the department said a lot of work still has to be done.

Deputy Minister of Public Enterprises Obed Bapela said they are still on the journey to turn around the airline.

“So much work still has to be done. The issue of strategic equity partner has still not been resolved.”

Board chairperson Derek Hanekom said while there is a “legacy of bad stories”, the last four years are water under the bridge.

The committee will now meet separately with Minister Pravin Gordhan to get an update on the majority sale of SAA to an equity partner.

-EWN

In other news – Photos: A look into Ayanda Ncwane’s Zanzibar vacation

Well-known Mzansi reality TV star, and businesswoman, Ayanda Ncwane joins the list of South African celebrities who explored other countries at the start of the year. Mzansi celebrities took vacations to places like Dubai, Maldives, Zanzibar, and a few other countries.

Ayanda Ncwane

Ayanda was in Zanzibar and she had various activities that kept her engaged aside from the pleasure of feeding her eyes with the beauty of the oceans. Read More