SAA like trying to unscramble an egg, Denel basically looted, Parliament hears

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The SIU has a budget of R10 million for the Denel investigation and R30 million for that of SAA.
The SIU has a budget of R10 million for the Denel investigation and R30 million for that of SAA.

Investigations by the Special Investigating Unit (SIU) conducted at state-owned entities (SOEs) South African Airways (SAA) and Denel are like trying to unscramble a scrambled egg, according to Mkhuleko Hlengwa (IFP), chairperson of Parliament's Standing Committee on Public Accounts (Scopa).

The SIU briefed Scopa on Wednesday via a virtual forum on progress made with its investigations. After the briefings, Hlengwa described the presentations as "depressing". The SIU indicated that it is still within its budget for the respective investigations, namely R10 million for the Denel investigation and R30 million for that of SAA.

The investigations at SAA cover the period from 1 January 2002 to 31 January 2020. Scopa heard that technically, SAA is basically insolvent in terms of liquidity. The national airline has been in financial dire straits for years and has not been submitting financial statements. The SIU says it has already identified "a number of employees" whose actions might have been questionable.

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