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Minister takes on Nedbank chair

Apr 05 2012 13:33 Sapa

Company Data

NEDBANK GROUP LIMITED [JSE:NED]

Last traded 219.15
Change -1.97
% Change -0.01
Cumulative volume 359887
Market cap 112.64bn

Last Updated: 23/04/2014 at 04:27. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Police Minister Nathi Mthethwa on Thursday said Nedbank Group [JSE:NED] CEO Reuel Khoza's comments about the lack of leadership in South African was "twisted logic".

"Dr Reuel Khoza makes several assertions about the ANC government, some of which cannot go unchallenged," Mthethwa said in an opinion piece issued by the ANC.

"Dr Khoza holds in contempt the democratic and open society in which government is based on the will of the people, and casts the millions that voted this government into power as stupid."

Khoza, writing in Nedbank's latest annual report released on Friday, said South Africa's "strange breed" of leadership needed to adhere to the institutions that underpinned democracy.

The political climate was not a picture of an accountable democracy, he said.

Moral quotient degenerating

"Our political leadership's moral quotient is degenerating and we are fast losing the checks and balances that are necessary to prevent a recurrence of the past."

Khoza said South Africans had a duty to build and develop the nation, but also to hold their leaders accountable.

"We have a duty to build and develop this nation and to call to book the putative leaders who, due to sheer incapacity, cannot deal with the complexity of 21st century governance and leadership, cannot lead," said Khoza.

Mthethwa said Khoza's comments were thoughtless and devoid of substance and undermined the values, prescribes and intentions of the country's constitution.

"Our constitution is not a product of a Mount Sinai revelation that is cast in stone. It came as a result of selfless struggle and sacrifices of many South Africans and the members of international progressive humanity," he said.

The ANC government was doing its part in addressing the challenges of economic growth, job creation and development.

"Prominent by their omission in Dr Khoza's assessment of challenges are the issues... and what Nedbank, among others, is doing to address these for a better life for all," said Mthethwa.

"Understandably, the good doctor would not want to touch on these issues, lest he offends his paymasters, whom I should assume, are predominantly the beneficiaries of centuries of racist economic and political dispensations," he said.

Khoza should use his standing in society to respond to issues facing society in totality and not be tempted to blame others.

"We do not have to remind Dr Khoza that in less than 20 (years) ago, he would not have dreamt of being a chairman of Nedbank, if it was not (for) the relentless and selfless struggle of our people, led and guided by the African National Congress and its leadership that he despises so much today," said Mthethwa.

Khoza could not be immediately reached on Thursday.

 
anc  |  reuel khoza  |  nathi mthethwa  |  corruption
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