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Nedbank: SA leaders undermine law

Apr 02 2012 09:01 Sapa

Company Data

NEDBANK GROUP LIMITED [JSE:NED]

Last traded 221.59
Change 4.45
% Change 0.02
Cumulative volume 343564
Market cap 113.89bn

Last Updated: 17/04/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - South African's "strange breed" of leadership needs to adhere to the institutions that underpin democracy, Nedbank Group [JSE:NED] chairperson Reuel Khoza said.

"SA is widely recognised for its liberal and enlightened constitution, yet we observe the emergence of a strange breed of leaders who are determined to undermine the rule of law and override the constitution," Khoza wrote in his chairperson's letter following the release of the bank's 2011 annual report on Friday.

He said the political climate was not a picture of an accountable democracy.

"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 the duty to build and develop the nation, but also to hold its leadership accountable.

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

 
nedbank group  |  reuel khoza
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