‘Regulatory processes’ blamed for delay in SAA takeover by Takatso

The department’s deputy director-general Jacky Moline told MPs on Wednesday that the regulatory processes first need to be completed before Takatso can assume a 51% majority stake in the national carrier. 

She said this is only set to be completed in the first half of 2023.  

“I hear the level of frustration and the delay in terms of finalising this transaction. The challenge is that Takatso Consortium can come and takeover the 51% shareholders once all the regulatory processes have been completed. Only at the end of  March, that is when all the regulatory approvals will have been secured to make sure that they have ticked off all the boxes. 

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“Takatso, with all the willingness in the world, cannot come in until they get the green light from the regulatory authorities be it the Competition Commission and the Tribunal and the Air Service Council. That is the timeline I want to indicate.” 

SAA appeared before the Portfolio Committee of Public Enterprises on Wednesday on SAA’s outstanding financial statements for the past four years. 

However, the entity could still not deliver the financial statements. 

SAA CFO Fikile Mhlontlo told MPs that the financial statements will be concluded by early next year.