A bad week for Busisiwe Mkhwebane
She again has her sights set on the Reserve Bank, specifically its role in the liquidation of VBS Mutual Bank, based on questionable motives
A good week
You’re always on a hiding to nothing, taking over a company in the middle of an accounting scandal — let alone one that had deceived investors to the tune of R11.8bn. But Gavin Hudson has done all that could be expected of him as the CEO of beleaguered sugar producer Tongaat Hulett: coming clean on what went wrong, pledging to claw back bonuses and putting in place a clear and cohesive plan on how to put the company back together. Now, if only he’d release the full PwC report to shareholders …
A bad week
In the spotlight again for the wrong reasons, public protector Busisiwe Mkhwebane lost her bid to appeal the damning judgment that invalidated her report on the Estina scam. She now has to personally pay part of the costs of the challenge that overturned her findings. In a veiled attack on the judiciary, she tweeted: "Not surprised, expected this outcome from Judge Tolmay." She again has her sights set on the Reserve Bank, specifically its role in the liquidation of VBS Mutual Bank, based on questionable motives.