BREAKING: Mduduzi Manana resigns as MP

[f2wohf]

ANC MP and former deputy minister of higher education Mduduzi Manana has announced his voluntary resignation as a Member of Parliament.

In a statement published on the Mduduzi Manana Foundation's Facebook page, Manana said he made the decision in light of the National Prosecuting Authority's decision not to prosecute him for the alleged abuse of his domestic worker, Christine Wiro.

https://www.news24.com/SouthAfrica/News/breaking-mduduzi-manana-resigns-as-mp-20180724

 

[f2wohf]

https://twitter.com/SthembileCel/status/1021752735643967489

 

[SoTrue]

And also to not having to face the Ethics Committee...

 

[pinball wizard]

How the hell does this banana, sorry, I mean manana have so many millions in his pension fund?

 

[Ninja'd]

How the hell does this banana, sorry, I mean manana have so many millions in his pension fund?

Remember, a portion. :wtf:

 

[Ninja'd]

5 male students to enrol in Gender Studies? Can't wait to meet my future deliverymen.

 

[TheChamp]

That was unexpected, good on him for the donation.

 

[Sideshow Bob]

How the hell does this banana, sorry, I mean manana have so many millions in his pension fund?

And at 34 years old, wow

 

[SauRoNZA]

How the hell does this banana, sorry, I mean manana have so many millions in his pension fund?

Huh? It's not very difficult.

If he started working for 15 years ago putting away R2500 a month into his Pension and received a 10% increase every year then he'd happily be sitting on R1,819,462 right now with his most recent contribution to Pension being R9493 per month.

So we can safely assume he put away more than that because that final payment is 15% of R63,291 per month and you can be sure he saw much more than a perfect average 10% increase every year and probably didn't start with putting R2500 away in the first place.

 

[biometrics]

Iirc he comes from a wealthy family?

 

[Sideshow Bob]

That was unexpected, good on him for the donation.

Indeed, can't recall anyone (in government) being that generous in recent history. Well done to him.

 

[SauRoNZA]

And at 34 years old, wow

Why?

I bet a great many people on this forum have similar pensions at similar ages.

Of course we don't have the final figures but 15 years is a long time for money to grow if someone put all their ducks in a row and saved accordingly.

But then I'm not surprised either. Compound interest is a concept lost on our instant gratification based youth.

 

[biometrics]

https://m.news24.com/SouthAfrica/News/the-face-of-wrath-20180513-2

 

[Sideshow Bob]

Why?

I saw your calculations and I agree it is possible. I couldn't do it - different personal circumstances - way back in India

So I was genuinely 'wow'ing (no sarcasm)

 

[daveza]

"I welcome the decision of the NPA which has cleared me of any wrongdoing and I feel totally exonerated."

The NPA has cleared you of f/all you lying pos.

 

[SauRoNZA]

I saw your calculations and I agree it is possible. I couldn't do it - different personal circumstances - way back in India

So I was genuinely 'wow'ing (no sarcasm)

Most formal companies (the government being included in that) would automatically put 15% of your salary towards a Pension so more often than not it would be automatic and a matter of time only.

 

[Sideshow Bob]

Most formal companies (the government being included in that) would automatically put 15% of your salary towards a Pension so more often than not it would be automatic and a matter of time only.

power of compound interest indeed.

 

[Hemi300c]

Running from other skeletons I bet.

 

[R13...]

How the hell does this banana, sorry, I mean manana have so many millions in his pension fund?

That's probably because as an MP and deputy minister he gets his pension as if he had worked to retirement. Or at least a goodly portion of that pension. By avoiding a firing or reshuffling he gets to keep the pension.

 

[ponder]

What about the victims right to justice?