Documents on SAA/Takatso deal will not be made public yet

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The documents on the SAA and Takatso deal will not be made available for public consumption yet. This comes after counsel from Parliament’s legal advisor that the matter should remain confidential for now. Last week Public Enterprises Minister Pravin Gordhan handed the documents to the legal advisor to make a determination.

MPs were advised that the Share Purchase Agreement (SPA) between SAA and the Takatso Consortium is a live transaction and therefore sensitive by nature, the information should therefore not be shared with the public just yet.

“And the issue here is simple. The information that is before us particularly the SPA is it’s confidential and my answer is simple, yes, it is confidential, how do we treat them as a committee? Of course, the committee must look at it but it must look at it in a closed session, that’s all I’m saying, and I’m talking about the SPA, and the reason is simple chairperson because the transaction is still live,” says Andile Tetyana, Parliamentary legal advisor.

The committee members raised concern that they will have to give a report to the Speaker and need to take an informed decision to make recommendations.

“For instance, let me just make a simple example, let’s say the committee meets in camera and looks at this document in camera including the SPA and the committee is of the view that uh, there’s malfeasance in the transaction. It doesn’t say the committee would be gagged and we’ll say it, it’s not a gagging order that’s the point I’m trying to make but we are just trying to protect the integrity of the transaction,” Tetyana added.

ANC MP Sibusiso Gumede reminded MPs that they were tasked by the Speaker to investigate allegations of irregularities in the SAA Takatso deal, after a complaint by the former DG.

One of the allegations he made was that Takatso was not part of the first phase of bidders, documentation now seems to indicate that he was aware that Takatso, which is a merger between Harith and Global, made an offer to be the SEP.

“Furthermore, it’s the Molisane memorandum which the former DG signed on 8 April 2021, a proposal by Harith and Global which later became the Takatso Consortium was made to the DPE and we’re informed this satisfied the DPEs requirements.”

MPs said a lot of time and resources went into the probe and there should be consequences for those caught in a lie.

The minister addressed the media after the committee meeting and again gave his reassurance that the deal was above board.

“We are firmly committed to enhancing transparency and democracy within our own democracy and that it’s mischievous for anybody to suggest otherwise there’s no other word to use and there might be other agendas people want to pursue but that’s up to them. In the end we know we will be vindicated,” says Minister of Public Enterprises Pravin Gordhan.

The committee will meet next week again to discuss the Share Purchase Agreement.

MPs will sign a confidentiality agreement first. Parliament says it will advise the media and timeously on whether the meeting will be closed or partially closed.