Smuts’ pay is OK: Molefe

[rpm]

http://www.moneyweb.co.za/news/tech_stocks/438410.htm

"Public Investment Corporation (PIC) head Brian Molefe and Dimension Data chairman Andile Ngcaba have defended the decision to pay African National Congress (ANC) spokesperson and head of presidency Smuts Ngonyama a fee for his role in the Telkom black economic empowerment (BEE) deal announced on Thursday.

Speaking to Alec Hogg on the Moneyweb Power Hour, Molefe said because Ngonyama does not hold political office, there was no reason for him not to benefit from the R6-bn deal: “Smuts is not a member of parliament, he’s not in cabinet. He works for the ANC, just like you work for Moneyweb.”

 

[Darth Garth]

Still chairman of Dimension Data ... is this not a conflict of interest ???.

Enron ... here we come.

 

[mbs]

Yes it is - Ngcaba should relinquish his DiData position. As for Ngonyama, I lost all respect for him when he said, "I did not struggle to be poor." Despite not holding office in Government, he is very definitely a politician in the sense of holding office in a political party and working for it, which implies adherence to party principles. As far as I'm concerned, he should be unceremoniously booted out of Congress, for non-adherence to party principles regarding redistribution of wealth. Personal enrichment of any sort is an absolute anathema to core ANC principles and policies...

 

[w1z4rd]

ish, now we know how telkom keeps in power