Scopa hears SAA owes AG 'at least three years of financial statements'

This was revealed by the Office of the Auditor-General when it appeared before the Standing Committee on Public Accounts (Scopa) on Wednesday. 

Head of Portfolio Regularity Audit in the AG's office, Zolisa Zwakala, said the number of outstanding annual statements from the entity could increase to four by the end of May.

"We have at least three years of outstanding financial statements that SAA owes us as auditors. Once we receive those three years and make it four years once we add 2022, we are going to table those audit reports.

"In so far as the audit process is concerned; chair we audited SAA the first time for the 2016/17 financial year. And post that, when we were about to complete the 2017/18 financial year, we had to pull away at the request of the board, who were trying to sort out the liquidity and insolvency challenges that were overwhelming at that point."

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In 2019, SAA went through a liquidation process that was concluded in April 2021.

This saw Takatso Consortium acquire a 51% majority stake in the airline.

However, the AG's office says it is yet to see the agreement.

Accountant Fhumulani Rabonda says the Department of Public Enterprises has informed them that they are still finalising the agreement. 

"When we engaged with the DPE, let me start by saying we have not seen an agreement. We did request it, but the DPE said that the transaction had not been finalised in terms of the approvals that are needed. It said it would make the agreements available to us once those transactions are finalised.

"We also understand that Mango is not included in that transaction. What Takatso is going to buy is SAA and other subsidiaries, with Mango removed from that transaction."