Gordhan denies he interfered in Takatso deal to purchase SAA

Public Enterprises Minister Pravin Gordhan has denied claims that he interfered in the Takatso Consortium deal to purchase a 51% stake in South African Airways (SAA).

This comes after suspended Department of Public Enterprises (DPE) Director General Kgathatso Tlhakudi accused Gordhan of being the hidden hand behind Takatso’s formation and devaluing the national carrier to push the deal through on a dime.

According to Tlhakudi, assets belonging to SAA were undervalued by some R7 billion.

Concerns

The DPE said it is concerned about the conduct and the recent utterances of Tlhakudi who has embarked on an “ill-conceived campaign to misinform and deceive the public.”

“The Department has noted that in the latest round of television interviews this week, Mr Tlhakudi has continued to rehash old allegations but still fails to provide any convincing factual evidence. The veracity of his allegations remains untested and unproven.

“Mr Tlhakudi’s present conduct has all the hallmarks of a disgruntled employee, who refuses to account for his alleged abuse of office.

“Mr Tlhakudi, is aware of internal processes that are looking into the misconduct that resulted in his suspension in June 2022 as has been previously announced. Rather than allow for due process, Mr Tlhakudi, has instead opted to impugn the reputation of the Department, its staff and by extension its executive political authority, Mr Pravin Gordhan, the Minister of Public Enterprises.”

The department also denied Tlhakudi’s assertions that he was suspended as DG because he opposed alleged irregularities in the transaction.

ALSO READ: Competition Commission provisionally approves Takatso, SAA deal

Gordon denies claims

Gordhan has denied Tlhakudi’s claims the he interfered in the Takatso deal.

“These claims are patently false and are emblematic of someone who is refusing to be held accountable, and is instead clutching at straws, and looking for public sympathy through deception and lies.

“The Department will not be deterred from working to stabilize our SOEs, exposing corruption and creating a stable framework through which our SOEs can deliver on their developmental mandate,” Gordhan said.

Takatso Consortium

Earlier this month, the Competition Commission recommended that the Competition Tribunal give the Takatso Consortium deal a green light depending on the disposition of subsidiary business interests and employment conditions.

The commission said if the merger went ahead with Global Aviation and Syranix, which co-owns the LIFT trademark, as minority shareholders of Takatso, the SAA deal would decrease competition in the domestic passenger airlines market.

ALSO READ: Lift must go for Takatso-SAA deal