Fin24

Gordhan backs Shaik's DBSA appointment

2012-08-09 14:56

Johannesburg - Finance Minister Pravin Gordhan on Thursday defend the Development Bank of SA's (DBSA) decision to appoint Mo Shaik as head of its international subsidiary.

"I believe the DBSA has followed proper processes in making this appointment, which I support," he said in a statement released by his office.

Gordhan was responding to the Democratic Alliance's announcement that it would ask him to explain the process followed by the bank in appointing Shaik.

The post was advertised within the DBSA and an executive headhunting agency was appointed. Nine candidates were identified, and four of these were shortlisted.

They completed psychometric assessments and were interviewed by a subcommittee of the DBSA's board of directors.

Best person

"In fairness to the four shortlisted candidates, I am not going to disclose their names," Gordhan said.

They had participated in the process on the understanding that their candidature would be treated in the strictest of confidence, he said.

Following the interviews, two candidates were eliminated and Shaik was identified as the best person for the job.

"In its recommendation, the board found Mr Shaik to have strong networks and relationships within the SA development community," he said.

These were seen as key to the success of the DBSA's subsidiary, the Development Bank International.

"Mr Shaik also displayed strong analytical skills and a deep understanding of national priorities, all of which can be partly attributed to the various positions that he has occupied in government since 1994," said Gordhan.

"Mr Shaik's lack of experience in running a commercial enterprise is made up for by his recent training at the Harvard Business School."

Appropriate skills

The Development Bank International had a vital role to play in enhancing the development of infrastructure projects in southern Africa, which would in turn promote regional integration, he said.

The DBSA announced Shaik's appointment on Wednesday.

Shaik had the appropriate skills and background for the position, which would involve working with development finance institutions of Brazil, Russia, India, and China, DBSA chair Jabu Moleketi said in a statement on Tuesday.

"Shaik's experience in the field of international relations and diplomatic intelligence will be an added boost for this new subsidiary," he said.

"We have no doubt that his prudent expertise will facilitate South Africa's investments in the rest of Africa."

Shaik holds degrees in computer science and a master's degree in optometry. He has also completed an advanced management programme at the Harvard Business School in the US.

He served as chief executive of CorpAfrica, South African consul general in Germany, and as South African ambassador to Algeria.

He was a special adviser to former foreign affairs minister Nkosazana Dlamini-Zuma, head of policy research for the same department, and head of secret services at the state security ministry. 

Comments
  • michael.deyzel.1 - 2012-08-09 15:05

    Cousin?

      fussed.anderson - 2012-08-09 17:11

      Birds of a feather

  • Motho - 2012-08-09 15:11

    What about people who work hard and aren't politically connected?

      fussed.anderson - 2012-08-09 17:12

      Dont be silly, you keep them that way

      ambauli - 2012-08-11 10:17

      They can eat cake?

  • mark.haupt.31 - 2012-08-09 15:19

    No surprise there, they're probably related - by blood or money. Next Shabir will be back in as well, having miraculously recovered from his terminal illness. And so the cANCer grows........

  • Lennon Chenga - 2012-08-09 15:22

    So.........? Is that supposed to legitimise his appointment? If anything, it weakens it!! Why would you need connected backing if your appointment was legit? It's because you have an optometrist being appointed head of a bank!!

  • kevin.watson.7906 - 2012-08-09 16:16

    Gorhdan you are as corrupt as the rest of them. Shaiks only claim to fame is that he was up to his neck in arms deal corruption, he also knows nothing about banking.

      fussed.anderson - 2012-08-09 17:14

      When he goes to jail he will get sick and then get better YOU CAN BANK ON THAT

      kevin.watson.7906 - 2012-08-09 21:41

      Fussed Anderson that, I take it, would be in the grand family tradition, after he has liberated some of the funds for family and friends.

      jakes.cakedregs - 2012-08-10 06:32

      Gordhan is powerless against the relentless cANCer machine. But then he also does not have the courage to stand up for what is right. I pity the poor man - it must be a moral hell for him!

      fussed.anderson - 2012-08-10 07:07

      @ Kevin. Yes ofcourse, after he has channeled all stolen money to overseas accounts without anyone knowing

      jo.barton.92 - 2012-08-10 08:19

      @jakes.cakedregs - I agree with you. How can he stand up against these guys when they are so well connected to Zuma?He is saying this to protect his job.Just like during the days of apartheid, white people were too scared to speak out or you will be jailed. Just like now, even though the ANC is destroying this country, the vast majority of blacks will continue to support them because of fear of their lives. This situation is simply no different.

  • clive.kihn - 2012-08-09 16:42

    They're all comrades together, so no surprise, even if it sends the wrong signal. Sorry Mr Gordhan, but I've come to the conclusion that you're no better than the rest of them. If you had any pride and honour you would have resigned when your government caved in to the public service unions, thereby ignoring your budget promise of 5% and no more. But obviously the gravy train is too lucrative to jump off.

  • rob.west.92123 - 2012-08-09 16:47

    Birds of a feather..........

  • imani.exclusives - 2012-08-09 21:17

    They paid him to leave Intelligence and he gets another top post. Remember he was taken to Harvard first by intelligence and DBSA to qualify first. I've never heard of an applicant being taken to school to qualify? Sick society we are living in...different rules for ANC cadres!

  • quartus.vanzyl - 2012-08-10 08:36

    Absolutely shameless mr Gorhand!!!

  • annette.brits.9 - 2012-08-10 11:24

    Skills!!!He might have networking skills but it makes him no expert in Regional Finance and development banking. Where is this country going to? Political appointments??

  • munro.pretorius - 2012-11-12 17:58

    The only Banking knowledge he has is a overdraft at the Bank.

  • Brendon Chalmers - 2013-04-16 08:23

    Mo Shaik??? My 12yr old son is a better candidate. This man is a thief and a liar!

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