South Africa: SAA Chairman Resigns

Public Enterprises Minister Pravin Gordhan announced on Thursday that Souh African Airways (SAA) board chair JB Magwaza has resigned. The minister said Magwaza resigned for personal reasons.

The minister made the announcement on Thursday during his public enterprises budget vote in Parliament.

The resignation comes after SAA CEO Vuyana Jarana resigned two months ago, citing political interference. Jarana was replaced by Zuks Ramasia, who took up the position of acting CEO.

The last time the airline made a profit was in 2011 and nine CEOs have left the state-owned company in the last decade.

However, SAA said it remained confident that the business would be transformed to regain self-sustainability.

Meanwhile, the state of parastatals was thrust into the spotlight, with different messages from African National Congress members and government about what should be done to save state companies. President Cyril Ramaphosa also met with CEOs of companies at the time to discuss their roles.

Two months ago, Phakamani Hadebe resigned as CEO of Eskom leading to questions about the stability of the utility and further queries about the country's state-owned enterprises.