LETTER: Maths, not racism
The idea that white-owned businesses get away with flouting rules is mistaken
GHLT Capital director Gift Kwenane’s letter refers (“White-controlled firms get off easy”, January 25).
He says “the saga surrounding Bain & Co has taught us one thing about Corporate SA; that if you are a white-controlled and managed entity, corporate governance is not applicable to you”.
One could say the same about all spheres of government in SA and substitute white for another colour, but that would go against his narrative, wouldn’t it? Also, is he aware that Bain is a US company?
Bosasa, Nkonki and VBS Mutual Bank are an unfortunate choice of examples. VBS was a bank that had its deposits looted dry by politicians and could no longer function as a bank. Simple math, not racism.
Thinus Marais
Via BusinessLIVE
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