Grounded

Grounded

  • Fact: #

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

    9 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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