Former SAA board member Yakhe Kwinana granted R20k bail after appearing on fraud charges

Yakhe Kwinana made an appearance in the Palm Ridge Specialised Commercial Crime Court on Tuesday to face fraud charges.

Kwinana was the chairperson of South African Airways’ (SAA) audit committee. Her alleged offences are related to a contract she adjudicated in 2011.

It is alleged that Kwinana failed to disclose a conflict of interest between her own firm and the companies involved in the auditing contract in question.

Bail granted

The accused handed herself over to police before her court appearance, where she was granted bail of R20 000, reported News24.

Bail was unopposed by the state and her bail conditions include surrendering her travel documents and not contacting witnesses connected to the case.

Kwinana was fined R6.1 million in April 2023 after being found guilty of 13 out of the 14 charges brought against her by the South African Institute of Chartered Accountants (Saica).

She was subsequently expelled as a member of Saica and barred from practising as a chartered accountant.

State Capture inquiry

Kwinana served as an SAA board member from 2009 until 2016 and is most memorable for her vetkoek analogy made during the State Capture Inquiry.

ALSO READ: Ex-SAA board member Yakhe ‘Fat Cakes’ Kwinana fined R6.1m, booted as chartered accountant member

While being quizzed on why she cancelled an R85 million tender and gave it to another company without reissuing a tender, Kwinana gave a curious response.

“When I make this example of this LSG Sky Chefs… if my daughter is selling fat cakes here at home why would I buy them next door and not tell her that I don’t like your fat cakes?” she said.

‘No reason to run away’

Upon her resignation in 2016, Kwinana wrote in a letter sent to then minister of Public Enterprises Pravin Gordhan that she was not doing so to avoid the consequence of decisions made by the SAA board.

“Why would I run away? I had, and still have, no reason to run away,” she is reported saying at the time.

NOW READ: Yakhe Kwinana: ‘I had no reason to run away from SAA’