Dries van der Walt’s departure as acting chief executive of the Passenger Rail Agency of South Africa’s rail unit brings to 10 the number of senior executives who have left struggling state-owned enterprises since February 2019. He resigned and left at the end of July, after 29 years with the rail operator, Prasa announced in a note to staff on Wednesday morning.
Legal head and risk and compliance officer Martha Ngoye remains on special leave after almost three months, as does Tiro Holele, a strategy executive in the office of the CEO. They are yet to be charged with any offence or to be told why they have been removed from work. Earlier in August, Prasa also failed to answer a list of 16 questions on a proposed R5-billion infrastructure investment project that is said to flout all good corporate governance processes.
Barnes, banker and chairman of the JSE-listed Purple Group, had been hired to turn around the fortunes of the Post Office, which had been crippled by a series of labour strikes and financial losses that had rendered the utility unable to fulfil its basic mandate of delivering mail. Announcing his departure, the board said Barnes had joined it when it was “on its knees financially and operationally”.
SAA has long run out of funds to meet all its obligations, including the payment of wages and suppliers. It has for many years been running on loan extensions, debt guarantees and cash bailouts from the government.
Source: News Formal (newsformal.com)
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