Business News

State Capture Inquiry to continue on Friday

SABC News Daniel Mahlangu 1 - State Capture Inquiry to continue on Friday

BNP Capital Director Daniel Mahlangu will continue with his testimony on Friday morning at the State Capture Commission in Johannesburg after giving dramatic evidence on Thursday about then South African Airways (SAA) Board Chair Dudu Myeni’s advisor.

Mahlangu detailed how he and the advisor, Masotsha Mngadi, bid as advisors in the sourcing of the R15-billion debt consolidation loan sort by SAA in 2015.

Mahlangu claimed his electronic signature was used without his knowledge when BNP Capital acquired a second tender from SAA to source the R15-billion Capital.

The director says Mngadi told him there was a business opportunity at SAA and that the banks were giving unfavourable lending terms to the airline.

He says Mngadi gave him high-level information regarding SAA and seemed to understand how the company worked.

Mahlangu added that Mngadi had approached him to bid for the advisory services tender at SAA in 2015.  He also approached him because his company had BEE credentials.

The commission will also hear testimony from Dr. Masimba Dahwa, former chief procurement officer of SAA.

Click below for more:

 

The post State Capture Inquiry to continue on Friday appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Leave a Reply

Your email address will not be published. Required fields are marked *