ENOCH GODONGWANA: Membership of ANC NEC does not preclude development bank role
No law has been infringed by holding these positions
Old Mutual-linked financial services company Futuregrowth Asset Management has raised the issue (https://www.businesslive.co.za/bd/national/2020-08-30-futuregrowth-warns-of-risks-in-appointing-politically-exposed-people-to-boards/) of my roles as both an ANC national executive committee (NEC) member who chairs the party’s economic transformation committee and as the nonexecutive chair of the Development Bank of Southern Africa (DBSA).
This is easily addressed. No law has been infringed by my holding these positions. I am an ANC member who has been elected to leadership positions, but I am not an employee of the ANC or any government department. As a board member of the DBSA, I am guided by the same fiduciary duties as other board members. I follow the same good governance principles as my fellow board members, and if and when any conflict arises it will be dealt with formally, in the same manner as such conflicts would be dealt with by other board members...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.