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State Capture Inquiry: Company Applying For SAA Tender Failed To Submit Finances

Daniel Mahlangu - State Capture Inquiry: Company Applying For SAA Tender Failed To Submit Finances

The State Capture Inquiry has heard that one of the entities which applied for a lucrative South African Airways (SAA) contract failed to submit their financial records.

Daniel Mahlangu, the sole director of BNP Capital, formed a consortium with Inline Trading, an entity that belonged to Masotsha Mngadi who was the advisor to former SAA chairperson Dudu Myeni.

SAA was looking for a transaction partner to assist it to acquire R15 billion to stay afloat.

After the deal fell through, BNP Capital tried to secure a cancellation fee of R49 million but that was rejected by the SAA board.

Mahlangu said he wasn’t aware that Inline Trading had no financials.

“The entity doesn’t have financials. It’s either the financials are not ready or there hasn’t been any activity for them to actually state any financials. Those are the assumptions that I’ve made,” he said.

EWN

The post State Capture Inquiry: Company Applying For SAA Tender Failed To Submit Finances appeared first on iAfrica.com.

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