I spoke without facts
ANC Youth League President Julius Malema has been forced to back down from his threat of a boycott against Nedbank and admit that he had it all wrong.
The bank's decision to withdraw its sponsorship of Athletics SA (ASA) had nothing to do with the Caster Semenya debacle and was made in July, a month before the controversy over the athlete broke in the wake of the world athletics championships in Berlin.
It followed nine months of talks between the bank and the ASA over the organisation's performance in organising road running.
Moreover, the bank funds only road running - not the category to which Semenya belongs, namely track and field.
These were the facts Nedbank chief executive Tom Boardman laid before Malema in a meeting facilitated by ANC treasurer-general Mathews Phosa in Joburg on Friday.
There, Malema conceded the matter was between the bank and the ASA and had nothing to do with him.
This is the second time in as many weeks Phosa has intervened on issues raised by Malema.
Phosa assured investors and business leaders in Europe two weeks ago that the nationalisation of mines was not ANC policy, just days after Malema started a campaign to introduce a 60 percent government shareholding in all future mines and licences.
Malema, through the media, retorted that Phosa could continue to entertain his "international friends, who are a minority", but nationalisation would proceed regardless.
