National Treasury says South Africa’s decision to sell a majority stake in the country’s national airline is a financial risk to the state. This, because the terms were allegedly in favour of the buyer; Takatso Consortium – whose 51% share in SAA represents "contingent liability".
This is according to National Treasury, in a document emailed to Parliament’s Standing Committee on Public Accounts (SCOPA) that was later withdrawn. Takatso allegedly has the right to assess whether any ongoing liabilities in SAA be settled by the government. The terms may result in the state providing funds in excess of its shareholding…To better-understand the dynamic of the deal, we are now joined by chartered accountant and commentator, Khaya Sithole
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