In a sign that widespread corruption and state capture have reached breaking point for many business players, more than 80 captains of industry have put their names to a list pledging support for Finance Minister Pravin Gordhan. The minister is facing prosecution on spurious charges as it becomes clear that he is standing in the way of President Jacob Zuma’s friends gaining access to state assets. Business players are notoriously loath to make political statements, choosing instead to get on with maximising profits and growing revenue. However, the rule of law is clearly disintegrating as a clique takes control of state organs, for example the National Prosecuting Authority. This move by the CEO Initiative is a clear sign that many of the country’s top business players no longer think it is in the best interests of their operations to remain silent about rampant corruption that is damaging the economy and threatening to reduce the country’s status to junk. This list of business movers-and-shakers comes from across sectors and cuts across racial and political divides – and includes Telkom’s CEO, Sipho Maseko. Telkom’s major shareholder is the South African government. Alongside Anglo American’s Mark Cutifani, Capitec Bank’s Gerrie Fourie and Investec Bank’s Stephen Koseff are the Black Business Council’s Mohale Ralebitso, MTN SA’s Phuthuma Nhleko and Safika Holdings’ Moss Ngoasheng, a former political prisoner with Nelson Mandela. As the tide turns against Zuma, questions will increasingly be asked about the business leaders who are conspicuously absent from this list, first published at Fin24. – Jackie Cameron
From Fin24
Cape Town – In a dramatic move of support for Pravin Gordhan, 81 CEOs pledged support for the finance minister days before he presents his mini budget and a week before he appears in court on fraud charges.
“We stand as one for the rule of law and against the decision to prosecute the Minister of Finance on charges that are, according to the preponderance of expert legal opinion, without factual or legal foundation and not in the public interest,” the CEOs, who form part of the CEO Initiative, said in a press statement.
The initiative was formed after former Finance Minister Nhlanhla Nene was fired in December 2015 and has worked with labour and government to find unity with business going forward.
“We stand against the damage this has caused to our economy and to the people of South Africa, especially the poor.”
The 81 CEOs who signed the pledge were:
1. Altron: No name provided
2. Anglo American: Mark Cutifani
3. AngloGold Ashanti Limited: Srinivasan Venkatakrishnan
4. Asisa: Leon Campher
5. Aspasa & Sarma: Nico Pienaar
6. Aveng: Kobus Verster
7. Bain & Company: Vittorio Massone
8. Barclays Africa: Maria Ramos
9. Bid Corporation: Brian Joffe
10. Blue Label Telecoms: Mark Levy
11. Business Unity South Africa: Khanyisile Kweyama
12. Business Leadership South Africa: Thero Setiloane (on behalf of member companies)
13. Black Business Council: Mohale Ralebitso
14. Bowman Gilfillan: Robert Legh (chairperson)
15. Capitec Bank: Gerrie Fourie
16. CEO Initiative: Jabu Mabuza (convenor)
17. Chamber of Mines: Roger Baxter
18. Credit Suisse South Africa: Rick Menell (chairperson)
19. Dimension Data Middle East & Africa: Grant Bodley
20. Discovery Limited: Adrian Gore
21. Distell Limited: Richard Rushton
22. ENSafrica: Michael Katz (chairperson)
23. Exxaro Resources Limited: Mxolisi Mgojo
24. FirstRand Bank: Johan Burger
25. Goldman Sachs: Colin Coleman
26. Growthpoint Properties Ltd: Norbert Sasse
27. Hollard Group: Nic Kohler
28. Imperial Holdings: Mark Lamberti
29. Independent: Michael Spicer
30. Investec Bank Limited & Investec: Stephen Koseff
31. Johannesburg Stock Exchange: Nicky Newton-King
32. Kagiso Tiso Holdings: Vuyisa Nkonyeni
33. KPMG Southern Africa: Trevor Hoole
34. Liberty Holdings Group: Thabo Dloti
35. Life Healthcare: André Meyer
36. Lion Pride Investment Holdings Ltd: Geoff Rothschild
37. Mediclinic SA: Danie Meintjes
38. Menston Holdings (Pty) Ltd: Stanley Subramoney
39. MMI Holdings: Nicolaas Kruger
40. Mondi Group: David Hathorn
41. Mr Price Group Ltd: Stuart Bird
42. MTN SA: Phuthuma Nhleko (chairperson) and Mteto Nyati (CEO)
43. Murray & Roberts Holdings Limited: Henry Laas
44. Nampak Ltd: André de Ruyter
45. Nando’s: Geoff Whyte
46. Naspers: Bob van Dijk
47. Nedbank Group: Vassi Naidoo (chairperson)
48. Nedbank Group: Mike Brown
49. Netcare: Richard Friedland
50. Northam Platinum: Paul Dunne
51. Old Mutual: Bruce Hemphill: Dave Macready and Ralph Mupita
52. PG Group: Charles Bromley
53. Pick n Pay Stores: Gareth Ackerman (chairperson)
54. Pioneer Foods Group Ltd: Phil Roux
55. Primedia: Roger Jardine
56. RCL Foods: Miles Dally
57. Remgro Finance Corporation: Jannie Durand
58. Reunert: Alan Dickson
59. Richards Bay Minerals: Mpho Mothoa
60. RMB Holdings and RMI Holdings: Herman Bosman
61. Rothschild: Martin Kingston
62. Safika Holdings: Moss Ngoasheng
63. Sanlam: Ian Kirk
64. Sappi Limited: Steve Binnie
65. Sasol Limited: Bongani Nqwababa & Stephen Cornell
66. SEIFSA: Kaizer Nyatsumba
67. Shell Downstream South Africa: Bonang Mohale
68. Sibanye Gold: Neal Froneman
69. South32 Limited: Michael Fraser
70. Spar: Graham O’Connor
71. Standard Bank Group Ltd: Ben Kruger & Sim Tshabalala
72. Sun International: Graeme Stephens
73. T-Systems South Africa: Gert Schoonbee
74. Telkom SA Limited: Sipho Maseko
75. TFG: Doug Murray
76. The Banking Association South Africa: Cas Coovadia
77. Tower Property Fund Ltd: Marc Edwards
78. Twinsaver Group: Garth Towell
79. Webber Wentzel: Christo Els (Senior partner)
80. Woolworths Group SA: Simon Susman
81. Woolworths Holdings (Australia): Ian Moir
Source: Fin24
http://www.fin24.com/Budget/named-the-81-ceos-who-pledged-support-for-gordhan-20161024
CEO Initiative Pledge
We, the CEOs and business leaders named below, join the Government/Business/Labour initiative, and commit to:
Do the right thing; stand by what is right; and reject what is wrong.
We stand for:
Our Constitution and Bill of Rights, which guarantee the independence of our courts and the impartiality of our prosecuting authority, and which create the institutions strengthening constitutional democracy in our country, such as the Office of the Public Protector
Good Governance, by which we mean transparent, rational and evidence-based policymaking in the national interest; diligent and honest delivery of public goods and services; and a private sector that holds itself – and is held – to the highest standards of corporate citizenship, corporate governance and ethics
A vibrant democracy, including the rights to freedom of expression and to protest peacefully under the equal protection of the law
Fast and inclusive economic growth and job creation enabled by a stable and predictable regulatory framework for business
Social justice and transformation so that South Africa truly becomes a country that belongs to all who live in it
Procedural and substantive justice for all
Inclusive growth and a prosperous South Africa for all.
We stand against:
Injustice, including failures to investigate and prosecute prima facie wrongdoing and any selective, malicious or politically motivated prosecutions that cannot satisfy the public interest test
Corruption, graft and waste in both private and public sectors
Threats of violence and violent protest
The damage to growth, job creation and transformation caused by policy uncertainty and by self-seeking behaviour in both the private and public sectors
Persistent unfairness and inequity in the economy
Since the National Prosecuting Authority announced its charges against the Minister of Finance in the public arena, we consider it our right and duty to respond in public.
We stand as one for the rule of law and against the decision to prosecute the Minister of Finance on charges that are, according to the preponderance of expert legal opinion, without factual or legal foundation and not in the public interest.
We stand against the damage this has caused to our economy and to the people of South Africa, ESPECIALLY the poor.
Signatories
Altron
Anglo American, Mark Cutifani
AngloGold Ashanti Limited, Srinivasan Venkatakrishnan
Asisa, Leon Campher
Aspasa & Sarma, Nico Pienaar
Aveng, Kobus Verster
Bain & Company Inc, Vittorio Massone
Barclays Africa, Maria Ramos
Bid Corporation Ltd, Brian Joffe
Blue Label Telecoms, Mark Levy
Business Unity South Africa, Khanyisile Kweyama
Business Leadership South Africa, Thero Setiloane (on behalf of member companies)
Black Business Council, Mohale Ralebitso
Bowman Gilfillan, Robert Legh (Chairman)
Capitec Bank, Gerrie Fourie
CEO Initiative, Jabu Mabuza (Convenor)
Chamber of Mines, Roger Baxter
Credit Suisse South Africa, Rick Menell (Chairman)
Dimension Data Middle East & Africa, Grant Bodley
Discovery Limited, Adrian Gore
Distell Limited, Richard Rushton
ENSafrica, Michael Katz (Chairman)
Exxaro Resources Limited, Mxolisi Mgojo
FirstRand Bank Ltd, Johan Burger
Goldman Sachs, Colin Coleman
Growthpoint Properties Ltd, Norbert Sasse
Hollard Group, Nic Kohler
Imperial Holdings Ltd, Mark Lamberti
Independent, Michael Spicer
Investec Bank Limited & Investec plc, Stephen Koseff
Johannesburg Stock Exchange, Nicky Newton-King
Kagiso Tiso Holdings, Vuyisa Nkonyeni
KPMG Southern Africa, Trevor Hoole
Liberty Holdings Group, Thabo Dloti
Life Healthcare, André Meyer
Lion Pride Investment Holdings Ltd, Geoff Rothschild
Mediclinic SA, Danie Meintjes
Menston Holdings (Pty) Ltd, Stanley Subramoney
MMI Holdings Limited, Nicolaas Kruger
Mondi Group, David Hathorn
Mr Price Group Ltd, Stuart Bird
MTN SA – Phuthuma Nhleko (Chairman) and Mteto Nyati (CEO)
Murray & Roberts Holdings Limited, Henry Laas
Nampak Ltd, André de Ruyter
Nando’s, Geoff Whyte
Naspers, Bob van Dijk
Nedbank Group, Vassi Naidoo (Chairman)
Nedbank Group, Mike Brown
Netcare, Richard Friedland
Northam Platinum, Paul Dunne
Old Mutual, Bruce Hemphill, Dave Macready and Ralph Mupita
PG Group, Charles Bromley
Pick n Pay Stores Ltd, Gareth Ackerman (Chairman)
Pioneer Foods Group Ltd, Phil Roux
Primedia Limited, Roger Jardine
RCL Foods Limited, Miles Dally
Remgro Finance Corporation Ltd, Jannie Durand
Reunert Ltd, Alan Dickson
Richards Bay Minerals, Mpho Mothoa
RMB Holdings and RMI Holdings, Herman Bosman
Rothschild, Martin Kingston
Safika Holdings (Pty) Ltd, Moss Ngoasheng
Sanlam, Ian Kirk
Sappi Limited, Steve Binnie
Sasol Limited, Bongani Nqwababa & Stephen Cornell
SEIFSA, Kaizer Nyatsumba
Shell Downstream South Africa, Bonang Mohale
Sibanye Gold, Neal Froneman
South32 Limited, Michael Fraser
Spar, Graham O’Connor
Standard Bank Group Ltd, Ben Kruger & Sim Tshabalala
Sun International, Graeme Stephens
T-Systems South Africa (Pty) Ltd, Gert Schoonbee
Telkom SA Limited, Sipho Maseko
TFG Ltd, Doug Murray
The Banking Association South Africa, Cas Coovadia
Tower Property Fund Ltd, Marc Edwards
Twinsaver Group, Garth Towell
Webber Wentzel, Christo Els (Senior partner)
Woolworths Group SA, Simon Susman
Woolworths Holdings Ltd (Australia), Ian Moir
Join the conversation by using #CEOPledgeSA
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