President Jacob Zuma with executive chairperson of the Jacob Zuma Foundation as well as chairperson of SAA Dudu Myeni. Picture: GCIS
Myeni will continue being the chairperson of SAA until November despite her contract ending last week Thursday, City Press reports.
Myeni’s contract was extended by the treasury, she was requested to remain in her position until the Annual General Meeting which is scheduled for November.
This has apparently angered officials from Nedbank who held a meeting with SAA and executives from the treasury to discuss further loans being granted to SAA. The airline is facing a cash crisis and seeking a bail out from the government.
Myeni is said to have told close friends and colleagues that she would only leave when ‘ubaba left.’
Nedbank officials said they would not grant loans if Myeni remained until November as they had been promised by Finance Minister Malusi Gigaba that she would be gone by then, the weekly reports.
“The Nedbank official wanted to know why Myeni was staying on because Finance Minister Malusi Gigaba had promised all banks she would leave as soon as her contract expired,” said a source.
Another high level source confirmed the stance Nedbank had taken.
“They basically said they will find it close to impossible to continue financing SAA if Myeni continues as chairperson.”
SAA spokesperson Tlali Tlali said a meeting had been held, adding that the details thereof were confidential.
Standard Bank Chartered and Citibank both revoked loans worth R2,2 billion and R1,8 billion recently, stating they would only finance SAA if Myeni left and government also put forward cash to boost the airline.
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