BNP Capital director Daniel Mahlangu.
BNP Capital director Daniel Mahlangu.

#StateCaptureInquiry hears how Dudu Myeni's advisor tried to muscle in on R15bn SAA deal

By Siviwe Feketha Time of article published Jun 27, 2019

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Johannesburg -  The Zondo commission has heard how former South African Airways board chairperson Dudu Myeni’s private advisor lobbied BNP Capital to partner with him to be appointed as a transactional advisor to source R15 billion for the airline for debt consolidation.

The commission has previously been told by former South African Airways chief financial officer Phumeza Nhantsi how she was used to conclude dubious contracts and how Myeni insisted that she work with her advisor Masotsha Mngadi in concluding the debt consolidation tender.

On Thursday, BNP Capital director Daniel Mahlangu detailed how Mngadi approached the company and asked that it joins forces with him to clinch the contract in 2016.

“When we actually met with Mr Mngadi he mentioned an opportunity that was available at SAA. Before we could even meet, he had already forwarded an RFI which I have asked the guys at the office to look at and see what it required. He gave us an overview of the opportunity and his experience as far as SAA is concerned,” Mahlangu said.

“He did mention to us a company - Inline Trading - that he said we are going to partner with,” he said.

Mngadi however did not want his name to appear in the bid.

The SAA was however forced to abort the BNP Capital advisory contract following controversies around it, including revelations that the company had failed to disclose it’s the suspension of its licence by the financial services board.

This was not before Mahlangu solicited a R49 million cancellation fee from SAA.

Political Bureau

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