• The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

  • Web of dependency

    Zupta defenders are playing cat and mouse with ratings agencies, says Solly Moeng.

All data is delayed
See More

Nafcoc members expelled

Jul 23 2013 17:18

Johannesburg - Nafcoc has expelled its former president Lawrence Mavundla and several others for bringing the organisation into disrepute.

"In line with the resolution, letters of termination have been served on all the affected individuals," National Federated Chamber of Commerce and Industry president Joe Hlongwane said in a statement on Tuesday.

"The expelled individuals are accordingly no longer members of Nafcoc and do not represent Nafcoc in any capacity."

The expelled group included Sonyosi Stephens Sikhosana, Churchill Mrasi, Teme Emmanuel Letsoela, Sekwamo Gilbert Mosena, Daniel Kotze and Chuma Shweni.

Mavundla was removed by a group led by Hlongwane at a meeting in December last year.

The meeting passed a vote of no confidence in the executive led by Mavundla as the president, elected Hlongwane as president and a new executive.

In February, Mavundla and his group lost in the High Court in Johannesburg to have Hlongwane's leadership declared invalid.

Hlongwane said the group failed to produce properly audited annual financial statements since 2009, account for funds received from the chamber's investment arm Nafhold, pay Nafcoc's liabilities to the SA Revenue Service and also sowed division in the organisation by attempting to create parallel structures.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

nafcoc  |  economy



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote