FMF NEWSLETTER 5 June 2019

06 June 2019
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FMF NEWSLETTER 5 June 2019   
 
ARTICLE of the week  

SAA’s Jarana hits ejector button – CHRIS HATTINGH

South African Airways’ sometimes-controversial CEO, Vuyani Jarana, has resigned. When the news broke on Sunday, many were caught by surprise, perhaps because it follows only a week after the resignation of another state-owned enterprise (SOE) CEO, Eskom’s Phakamani Hadebe. The continued failures and bailouts of both SAA and Eskom are well documented. Jarana’s resignation points to systemic problems at the state-owned airline – and there is no logical or moral reason to keep this particular SOE afloat. There is little point in bringing in a new CEO at this point. The only legitimate reason would be to appoint a new person so that he or she can close SAA down. SAA’s time has run out.

SAA and Eskom, combined, have an outstanding debt close to R500bn. The financial risk Eskom and SAA present to the economy is massive and hangs like the sword of Damocles over our heads. The longer the government keeps them afloat with taxpayer-funded bailouts, the more the financial pressure increases. When added to other misguided policies that discourage economic growth, and higher taxes that are driving more people to leave the country, there is absolutely no reason for government to continue to spend its dwindling funds on a national airline. It is a moral imperative that Minister of Public Enterprises, Pravin Gordhan, shuts off the flow of money from taxpayers to SAA. But does he have the political and ideological will?

To read further, please click here.

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UPCOMING FMF SPECIAL event – LUMINARY AWARD PRESENTATION  

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ANNOUNCEMENT

10th LUMINARY AWARD

The Free Market Foundation is pleased to announce that the
10th Luminary Award will be presented to

Bonang Mohale
CEO of Business Leadership South Africa (BLSA)

On Tuesday, 11 June 2019 at 12h00 for 12h30

At 1 Discovery Place, Rivonia Road, Sandton

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EVENT The prestigious 2019 LUMINARY AWARD PRESENTATION – DEMOCRATISING CAPITALISM Tuesday 11th June at 12.00
VENUE: 1 DISCOVERY PLACE, RIVONIA RD, SANDTON

SPECIAL GUEST SPEAKER: Bonang Mohale – CEO – Business Leadership South Africa

RSVP https://www.freemarketfoundation.com/View-Event?i=210

Seating is limited – RSVP as soon as possible to avoid disappointment.

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Luminary Award
Through the Luminary Award, Free Market Foundation (FMF) identifies unique individuals who inspire others. These individuals, whether local or international, are elected as FMF Luminaries to broadcast and memorialise their achievements.

Previous Luminary Award winners
Dr Yuri Maltsev
Reverend Dr Thabo C Makgoba
Dr Pauline Dixon
Dr Sam Motsuenyane
Advocate George Bizos
Dr Richard Maponya
Raymond Ackerman
Johan Norberg
Dr Reuel J Khoza

Snippets of the first nine award winners’ presentations can be viewed here
https://www.youtube.com/watch?v=dfJY9bDATPY

UPCOMING FMF event  

Wednesday, 26 June 2019 EVENING EVENT 18:00 @ FMF  more info to follow

FMF events can be watched LIVE via the FMF’s Facebook page by clicking this link: https://www.facebook.com/FMFSA/

Once on the FMF Facebook page, please scroll down until you find the presentation live streaming. Please note: the video remains available on Facebook after the event (though you will need to scroll down further to find it). OR you can watch it on our YouTube channel – usually uploaded within a day or two: https://www.youtube.com/user/channelfmf 

Latest FREE MARKETEERS podcasts  

Jarana ejects from SAA
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WORTH reading  

Cyril’s sleight of hand
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FMF in the media  

Media Digest & Cuttings MAY 2019 for all media coverage

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