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EAAB stands behind its chairperson

Aug 08 2011 13:21

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Johannesburg - the Estate Agency Affairs Board (EAAB) on Monday said its board fully supports its chairperson Thami Bolani.

This was in spite of weekend media reports that the Hawks were investigating how a company belonging to Bolani allegedly pocketed R200 000 from the regulatory body.

"NCF Consulting Enterprises, a company in which Thami Bolani is a director, was paid the money for services as well as adverts placed by the EAAB in the bi-monthly newspaper of the National Consumer Forum, of which he is also chairman. Questions are now also being raised as to whether he declared his business interests to the EAAB," the Sunday Times wrote.

However, the EAAB said its board wished to highlight the fact that there had not been any audit findings alleging any contravention of the Public Finance Management Act by Bolani in his capacity as a board member and chairperson of the board.

The EAAB added that full disclosure had been made by Bolani when he became a board member.

The Board Charter is very specific and clear that "a board member who has real or prospective interests in any of the business of the board shall declare as soon as the board member becomes aware of such a specific interest on first appointment and once every year thereafter", the EAAB stressed.

It added that the decision to advertise in the newspaper of the National Consumer Forum had been taken long before Bolani became a board member and subsequently chairperson of the EAAB.

"The department of trade and industry, its agencies and other departments also advertise in this newspaper which is distributed free to consumers across the country."

"Although Mr Bolani was not aware of any investigation conducted against him until the allegations in the Sunday Times report of August 7, he has expressed his full cooperation in this regard."
dti  |  eaab  |  thami bolani  |  property market
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