EFF leader Julius Malema says his party is consulting its lawyers to urgently stop the sale of SAA to Takatso Consortium – a politically-connected group linked to ‘white capitalists’ in SA.

Malema used these strongly worded claims to describe the deal between the government and the Takatso Consortium, which has yet to be finalised.

Daily Dispatch reports that National Treasury last week said it was not consulted on the sale of the stake, which it said cost R51.

Addressing the media yesterday, Malema said ‘we condemn and oppose the disposal of SA Airways because its disposal is not justifiable and corrupt’.

‘There is absolutely no rationality in selling off an airline for R51 to people who are linked to and controlled by the white capitalist establishment,’ he said.

The Pretoria News reports that Takatso is led by Harith chairman Tshepo Mahloele, who is also the owner of Arena Holdings.

Takatso, made up of local aircraft lessor Global Aviation and Harith General Partners, a pan-African investor in African infrastructure, were confirmed as the preferred majority owners of SAA last June, but details were only revealed last week.

Despite confusion over the deal, Malema is adamant that they are consulting with their legal team to reverse the agreement because it is allegedly part of a plan by government to privatise all SOEs.

SAA’s historic debt remains the responsibility of the government, despite Takatso’s stake.

Cape Talk reports that Takatso says it has the capital to buy 51% of SAA, but Treasury is concerned that it will have to source most of the funding for the partnership.

Takatso will provide R3bn over the next two years.

‘There is no further need for injection into the new SAA going forward by the government of any sorts,’ says Takatso chairperson Tshepo Mahloele.

Full Pretoria News report

Full Cape Talk report

Full Daily Dispatch report