ANALYSIS| More Questions Than Answers After Government Sells Its 51% Share of SAA To Takatso Consortium

CHARLES MOLELE|

THE controversial sale of the troubled South African Airways (SAA) has raised more questions than answers.

Four weeks ago, Minister of Public Enterprises Pravin Gordhan announced that the Takatso Consortium, comprising Harith General Partners, a leading investor in African infrastructure and airports, and airline management firm Global Airways, has been selected as the preferred Strategic Equity Partner (SEP) for SAA.

Gordhan announced that Takatso Consortium is to acquire 51% of SAA while government will retain 49%.

Thus far the Takatso Consortium has not raised any capital to invest in the airline.

A week after the announcement of the SAA sale, President Cyril Ramaphosa said the plan to sell Government’s majority stake in the airline was not a done deal.

“Only after the due diligence is completed will the rubber hit the road,” Ramaphosa.

However, the sale has drawn the ire of the trade unions and opposition parties –