I feared for my life under Myeni, says former SAA CFO
The former Chief Financial Officer (CFO) at SAA, Phumeza Nhantsi, has told the commission of inquiry into state capture that working under the leadership of the former board chairperson, Dudu Myeni, was unbearable and she feared for her life.
Nhantsi told the commission she believed Myeni and her associate, a former Nedbank employee, who she was told would be her advisor, Masotsha Mngadi, were using the R15 billion loan transaction process for personal gain and this made her working environment hostile.
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Between 2015 and 2016, SAA procured the services of a transactional advisor from a firm called BNP Capital was not necessary as the company, according to other witnesses, had its own expertise to negotiate this deal.
When the transaction failed BNP Capital, through Mngadi, claimed there was a cancelation fee that had to be paid. However, the firm had not done any work for the state-owned entity.
Advocate Kate Hofmeyr: "You regarded the cancelation fee as a scheme perpetrated by Ms. Myeni with the assistance of Mr. Mngadi to enrich themselves, is that a correct reflection of your evidence?"
Nhantsi: "It is chair, it's a correct reflection especially knowing what I know now."
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She said Myeni placed an incredible amount of pressure on her to fast track the cancelation fee to a point where she was unable to say refuse despite some of the instructions being unlawful.
"All the time she placed pressure and asked what I am waiting for I should just approve. Especially on the cancelation fee chairperson, she said to me she thought I do not appreciate the pressure the board is under to get the funding and my pace is very slow.”
The cancelation fee was going to cost SAA R50 million.
Nhantsi said she would also be given CV's and instructed to just appoint those persons in certain departments such as procurements.
She said another official at SAA told her Myeni would go to a certain internet Cafe, disguise herself and write anonymous whistleblowing emails and get people fired.
Nhantsi said this information made her fear for her life and the pressure she was under made her believe if she didn't do what Myeni said she would be harmed.