Cape Town — Minister of Public Enterprises, Pravin Gordhan, said he agrees with Parliament’s legal advisor that there was no corruption involved in the sale of South African Airways (SAA).
Gordhan briefed the media over the private equity sale of SAA to Takaso Consortium, and he said he was happy that Parliment found no wrongdoings over the sale, which was backed up by Parliament’s legal advisor Advocate Andile Tetyana, who said he found no instances of malfeasance in the deal, EWN reported.
Gordhan also said there were valid reasons why the details of the sale needed to remain confidential, adding that confidentiality doesn’t mean secrecy.
“This is a live transaction. It’s in a commercial setting. It’s a setting where there are competitors who use the information. And until the transaction is completed and fully negotiated.” he said.
“Confidentiality doesn’t mean secrecy and lack of transparency is not what we are talking about.” he added.
Xoli:
Why Min. Pravin Gordhan wants a confidential Parliament meeting on SAA/Takatso deal?Zwelinzima Vavi (SAFTU SG):
Maybe he’s hiding corruption. Perhaps Takatso didn’t pay anything to own 51% of SAAXoli:
Gordhan wanted MPs to sign Non-Disclosure Agreements, until Parly… pic.twitter.com/KU1hG7Fz9h— Izwe Lethu (@LandNoli) March 7, 2024
According to The Citizen, the sale is being renegotiated and, due to the commercial sensitivity of the case, is why s why several documents relating to the agreement must be kept secret, Gordhan said.
Takatso were selected as one of four at the time, but circumstances were different due to the Coivd-19 pandemic. Market conditions have, however, changed, which is why the transaction is being renegotiated. “The numbers will change,” he said.
In a letter published on Wednesday morning, Gordhan insisted that the documents and their contents can neither be made public nor recorded or photographed.
He also warned the committee that should the documents be released, the committee will be liable for claims, not the department. The committee decided to proceed on the basis that the documents are to be treated confidentially.
This decision prompted Democratic Alliance (DA) to withdraw from this and future in-camera discussions on the matter.
“In light of this new development, the DA will not be participating in any further consideration of the SAA/Takatso deal until Parliament opens up such deliberations to the public and releases the SAA/Takatso Share Sale and Purchase Agreement.”
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Compiled by Matthew Petersen
