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Hey, Big Spender

 South African newspapers and radios have been abuzz with the Khaya Ngqula, (SAA previous CEO’s) scandals. Ngqula was placed on special leave last year to facilitate an investigation into issues around retention premiums, conflict of interest and procurement.

Ngqula definitely knew a thing or two about spending. Our brothers can splash out money, he spent: R3.3 million on hospitality suites, organised overseas trips for friends and associates to the 2006 Fifa World Cup, the Rugby World Cup in 2007 and an ATP tennis tournament in 2008.  The list goes on. One would think that the airline was making big bucks. Not so. SAA was running losses and had asked for a government bail out the year before.

He is now being asked to pay back R27 million. Besides the financial implications of this investigation, his name is all over the media for all the wrong reasons. Africa is very forgiving and he will probably land another high paying job somewhere else. I do however think that the days of forgiving are fast coming to an end as people begin to make leaders accountable. We need more of these investigations and more retribution.

Leaders in all spheres should be accountable. We cannot turn a blind eye when leaders run companies into the ground. As the SAA board has done, we should demand accountability and aggressively seek it. We cannot continue to sweep things under the carpet. We need to see more from those in positions of responsiblity and when they do not perform, they should bear the brunt of it. This is good corporate governance.

Viva accountability. Viva!! Viva Corporate Governance. Viva!!

 (I heard lots of Viva’s at the Democratic Alliance congress last week, Viva Tshabalala was the one I really liked).

Categories: Business
  1. February 14, 2014 at 5:06 am

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  2. February 18, 2014 at 2:49 am

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