Share

Reserve Bank, Pretorius end fight

Johannesburg - The SA Reserve Bank (Sarb) and one of its shareholders, Mario Pretorius, have resolved their issues of dispute, according to a statement pasted on the Sarb's website.

The parties "regret the unfortunate events at the 88th ordinary general meeting of shareholders held in 2008, which resulted in proceedings being instituted by Mr Pretorius before the Equality Court".

The Sarb added that Pretorius, as a shareholder of the bank, actively participated in the process of ensuring good corporate governance in the institution.

"This statement serves, as far as Mr Pretorius and the bank are concerned, to resolve all issues of dispute between them regarding the events at the aforesaid ordinary general meeting of shareholders of the bank."

Both parties have recommitted themselves to the highest standards of professionalism and ethical behaviour "and to uphold the image of the Sarb and its shareholders in a spirit of co-operation and understanding".

Pretorius had alleged that racist remarks had been made at the 2008 meeting.

He asked former Sarb governor Tito Mboweni to bring the meeting to order, but Mboweni refused.

Pretorius then said: "Shocking."

Mboweni then informed Pretorius he should not address him in the manner used by whites when addressing blacks in the apartheid era.

Pretorius took the matter to the Equality Court, demanding compensation, an apology and for Mboweni to pay legal fees.

However, the court found that Mboweni's comments had not been racist.

Magistrate Siva Padayachee said that Mboweni's words were merely "a storm in a tea up".
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.95
-0.2%
Rand - Euro
20.46
+0.0%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.3%
Platinum
911.00
+1.6%
Palladium
1,008.15
+0.6%
Gold
2,217.47
+1.0%
Silver
24.78
+0.5%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders