WATCH LIVE | SAA decision flew in the face of recommendations, says former airline treasury head

Editor's Note: This live stream is due to begin at 10am

14 June 2019 - 10:23 By TimesLIVE

The Zondo inquiry into state capture will continue to hear testimony from former head of financial risk management at South African Airways (SAA) Soraya Stimpel on Friday.

The commission is also expected to hear aviation-related testimony from director of Grissag AG Pieter van der Merwe.

Former SAA head of treasury Cynthia Stimpel told the inquiry on Thursday that former SAA chairperson Dudu Myeni and her board may have flouted procurement regulations when appointing a little-known company to source R15bn for the airline in 2015.

Stimpel, who was SAA's acting group treasurer at the time, said the two options her team recommended to the board after an extensive procurement process were ignored.

Instead, the board ordered that SAA appoint the Free State Development Corporation to provide the funds for SAA's capital-restructuring project.


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