Futuregrowth warns of risks in appointing politically exposed people to boards
Asset manager notes possible conflict of interest because DBSA chair Enoch Godongwana serves on the ANC’s NEC
30 August 2020 - 20:06
The appointment of politically exposed persons to company boards could give rise to conflicts of interest and subsequent governance transgressions, asset manager Futuregrowth warned last week.
In 2016 Futuregrowth, which manages about R194bn of client assets and is a subsidiary of JSE-listed Old Mutual, made headlines after it decided to suspend loans to six state-owned enterprises due to concern about how they are managed.
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