Durban - FORMER SA Airways board member Yakhe Kwinana is expected to explain a R819 000 loan she facilitated for a fellow congregant through a company that was a SAA Technical supplier.
Kwinana, who resumes giving evidence at the commission of inquiry into state capture on Saturday, admitted to facilitating an R819 000 loan from a law firm contracted by the state-owned company she led for a fellow congregant after she was awarded a tender by the same entity.
Giving evidence at the commission of inquiry into state capture on Tuesday this week, Kwinana, a chartered accountant who is also a former SA Airways board member and ex-SAA Technical (SAAT) chairperson, initially denied that she had received a loan from SAAT.
Evidence leader Kate Hofmeyr asked: “Did you ever receive a loan from a supplier of SAAT?”
Kwinana responded: “A loan from a supplier of SAAT? No, chair”.
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Hofmeyr said Kwinana could not receive a loan from a supplier as chairperson of SAAT as this would be highly irregular and even more so if this was with no strings attached.
Kwinana said Janipath, the company reflected in the bank statements of Zano Spark, in which she was co-director with her daughter Lumka Goniwe, belonged to Ndileka Nobaxa, with whom she attended church.
”She told me she got an RFQ (request for quotation) from SAAT and she wanted money. She was awarded this RFQ [but] she did not have money to finance this RFQ. I also did not have money, she came to me. We go together at church,” she explained.
Kwinana continued: “She came to me to borrow the money. She said she wanted R700 000, there was an urgent supply. I did not have the money but what I said to her is that there is a potential investor who indicated to me that he is also interested in forex trading. She must speak to him and then if she needs my recommendation I will do that”.
According to Kwinana, Nobaxa spoke to Mbuleli Kolisi from BMK Attorneys, an external SAA service provider, who then indicated that he would have money to invest.
She said Nobaxa informed Kolisi she had a tender that she needed to service.
”Kolisi called me to verify whether I knew Nobaxa and if he could trust her because she seemed to be desperate. Kolisi gave her the R700 000,” said Kwinana, adding that she assured Kolisi that she knew where Nobaxa lived and that she was not going to run away with his money.
Nobaxa paid the money to Kwinana on the instruction of Kolisi, she testified.
The R119 000 is interest because Kolisi said he could not just give out the money without charging interest, according to Kwinana.
She said Kolisi had wanted to charge 30% interest and then she said Nobaxa is an emerging person why couldn’t he charge 10% and they reached a compromise of 17%, the R119 000 paid to Zano Spark.
Hofmeyr said the revelations were new to her and required further investigation.
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