While I share Ben Turok’s concern about rampant greed displayed by the directors of our public companies, it must be pointed out that these huge (and often objectively unjustified) amounts are at least approved by the governance systems that are part of our corporate law, enacted ultimately by the ANC.
They are not perpetrators of the uncontrolled fraud and corruption practised by most of the ANC executive at all levels of government and the deployed cadres in the NGO sector, about which Turok is largely silent. “Irresponsible misspending” by the members of the ANC, but “looting” in the private sector?
Turok raises a good point about the noninvolvement of the union movement in corporate affairs. However, it is my understanding that Cosatu and the other union federations have consistently refused to push for a structure that puts union representatives on the boards of public companies and NGOs, with the agreement of their fellow members of the tripartite alliance.
Only recently have the governance failures of the ANC cadre deployment policy been generally revealed and steps taken by a union to protect its members in Eskom. Some form of the corporate/labour relations model established in Germany would be a good thing to consider.
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