Home Business Public Enterprises Minister Prioritizes Legal Compliance in Sale of Mango Airlines

Public Enterprises Minister Prioritizes Legal Compliance in Sale of Mango Airlines

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The Department of Public Enterprises (DPE) led by Minister PravinGordhanhas announced that Harith General Partners and Global Airways, which make up Takatso Consortium, have been selected as the preferred Strategic Equity Partner (SEP) for the South African Airways (SAA), on Friday

Public Enterprises Minister Pravin Gordhan

Public Enterprises Minister Pravin Gordhan has reiterated his commitment to upholding the law while overseeing State Owned Companies (SOCs) as the government shareholder representative.

This comes after the Pretoria High Court’s recent ruling that the Minister must make a decision regarding the sale of South African Airways (SAA) subsidiary, Mango Airlines, within 30 days, as proposed by the business rescue practitioner.

The Department of Public Enterprises has welcomed the High Court judgment to place airline Mango under business rescue, effective from 28 July 2021.

The Department of Public Enterprises has welcomed the High Court judgment to place airline Mango under business rescue, effective from 28 July 2021.

Gordhan has stated that he is carefully studying the judgement and will proceed based on legal advice he receives. He emphasized his fiduciary responsibility to protect the interests of South Africans and ensure that any decision related to Mango is in accordance with the law and serves the public’s best interests.

The Minister explained that the delay in making a decision was due to his request for further information from the business rescue practitioner, as required by the Public Finance Management Act (PFMA), in order to make an informed choice. Gordhan expressed his commitment to adhering to all legal requirements to stabilize the country’s SOCs.

Gordhan’s office had requested the following information from the business rescue practitioner to inform the decision-making process:

1. A detailed and viable business plan from the consortium involved.
2. Comprehensive due diligence.
3. Information on foreign ownership to comply with South African laws.

Despite multiple requests, the Minister was not provided with the necessary information, which he believes is essential to evaluate the situation effectively. As a result, he cannot make a decision without sufficient information.

The Minister’s statement reaffirms his dedication to ensuring full compliance with the law and making informed decisions regarding the sale of Mango Airlines. The department will continue to follow the legal process in order to put all the country’s SOCs on a stable footing.

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