Good week for Lynne Brown and bad week for Stephen Saad
Just when it seemed to be carte blanche for Jacob Zuma and his minions, at least one member of cabinet was prepared to do the right thing. Public enterprises minister Lynne Brown stepped up to the plate by refusing to approve Eskom’s outrageous R30m payout to former CEO Brian Molefe, who quit when his links to the Guptas were exposed by the public protector. Brown said the board’s reasons lacked legal rationale, and the payout could not be substantiated as a performance bonus and was simply unjustifiable.
Price gouging, which a report in The Times of London accused Aspen of, is particularly egregious if not outright unethical when it comes to life-saving drugs. But instead of coming clean over the company’s failure to disclose a €5.2m fine for profiteering last year, Stephen Saad, CEO of SA’s largest generic-medicine producer, chose to point out the cancer drugs in question accounted for just 2.7% of revenue, and hide behind the sub judice rule. There’s clearly a moral deficit in the firm, whose share price fell 4.14% on the news.