Home > Business > Hey, Big Spender

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).

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

    Hi, i believe that i noticed you visited my site so i came to go back the prefer?.I am trying to find things to enhance my website!I assume its ok to use
    some of your concepts!!

    • February 16, 2014 at 10:19 am

      Thank you for stopping by:-)

  2. February 18, 2014 at 2:49 am

    Hey just wanted to give you a quick heads up.

  3. February 20, 2014 at 12:38 pm

    Oh my goodness! Awesome article dude! Thanks, However I am having problems with your RSS.
    I don’t know the reason why I can’t join it. Is there anybody else having similar RSS issues?

    Anybody who knows the solution can you kindly respond?
    Thanx!!

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: