Imagine for one fleeting moment that South African Airways is a publicly traded company on the Johannesburg Stock Exchange. This came about because of SAA's imminent liquidation, compelling the government to agree to a fire sale of SAA's assets to private investors.
It was an express condition of the sale that the new shareholders had the right to remove or affirm the current board of directors.
First to receive her marching orders was SAA's wrecking ball chairperson, Dudu Myeni, Zuma's close friend, set to serve a further term. When the news broke, SAA's stock trebled in value - a positive sign of investor confidence in SAA's road to recovery.
As to the remaining 11 directors, approved by cabinet, a decision to retain one or more of them would be assessed solely on merit. In other words, verification of their education, skills, training, on-the-job experience, and integrity. The days of over-paid do-nothing incompetent, corrupt parasites in SAA's first class executive dining room would be a thing of the past. Odds are a number of them will be looking in newspaper help wanted ads before too long.
A fleeting moment - yes, but hope springs eternal for government to divest state-owned enterprises to the private sector. Imagine some of the benefits - revenue enhancement to the fiscus, and an end to looting of state resources.
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