Grounded

Over the past 15 years SAA has received over R20bn in government guarantees as it is unable to plug its financial leaks, in the year ended March 2014, SAA reported a net loss of R2,6bn. SAA’s ex-CEO Siza Mzimela earned an annual salary of R4.96 million. (http://bit.ly/1xrzK5q, http://bit.ly/1bIecb2)

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This week’s theme: Parastatals

One response to “Grounded

  1. Wade

    4 years Ago

    SAA is a microcosm of all SA Parastatals. Schools, hospitals, railways, ports authorities, Eskom, SANRAL, municipalities and metros. I am afraid there isn’t too much light at the end of the tunnel. Name them and there are financial, management and operational problems. It’s a sad indication of how mismanagement and lack of skills can destroy organizations from the inside.

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