Though SAA can’t match its rivals’ fares in Africa and elsewhere and is a huge financial drain, government will not entertain thoughts of privatisation, saying job losses would be too severe and that there are plans to return the national carrier to profitability in 2021.
How much will it cost the SA taxpayer to fund losses until 2021 when, supposedly, SAA will become profitable?
I would rather bet that pigs will fly by 2021 than that SAA will report a profit that year. In the long run it will be cheaper to give employees packages as it is not them who are the cause of the big expenses at SAA. “Job losses would be too severe”? So you’re borrowing billions of rands annually to keep hundreds of people in jobs in a loss-making company. Now that makes perfect sense . . .
Name and shame Steinhoff deal makers, as it emerges that the big-money deal makers ran the show.
Let us see some of these whitecollar criminals be prosecuted and spend time in jail.
President Cyril Ramaphosa’s investment dream team has its work cut out as investors need certainty if they are to put money into ventures for five or 30 years.
If you thought getting rid of Jacob Zuma would solve SA’S problems, then you did not understand the problem. Like doctors and lawyers, professionals all stick together in times of crisis. We have KPMG (and others) involved in scandal after scandal and yet these professionals resist further oversight and good governance.
If there were ever a time to shake up the professional bodies, it is now.
None of the professions is too big, too powerful or too honest to continue without proper regulation.
When it comes to auditors, the biggest losers are investors and shareholders. Doctors bury their mistakes and lawyers charge at a level that makes justice for the rich only.
There has to be an ethos of charging transgressors criminally, and doing so quickly.
Time costs money for the victims and I would guess that many cases are dropped because the victims run out of money and can no longer afford justice.
Let’s see some auditors in orange jumpsuits — soon.