Picture: for illustration purposes
The Joint Committee on Ethics and Members' Interests has disclosed Public Enterprises Minister, Pravin Gordhan's substantial share portfolio. It totals over R6 million and includes shares in some of South Africa's key players such as Sasol, Absa, FirstRand, Standard Bank, Vodacom, MTN, Shoprite, Richemont, Remgro, Sanlam, and Prosus.
This information was divulged following the committee's requirement for Parliament members to declare business assets, shared interests, and gifts to uphold transparency and foster public trust in parliament. Cabinet ministers appointed by President Cyril Ramaphosa who are not MPs are not required to declare their interests.
As the Public Enterprises Minister, Gordhan represents the government's shareholding interests in state-owned enterprises (SOEs) that include Eskom, Transnet, the Post Office, and SAA. His role overseeing these SOEs has garnered considerable criticism as the SOE's performance has significantly deteriorated during his tenure.
Appearing in Gordhan's extensive declaration were an array of gifts and a R3 million flat in Durban. The list of gifts includes a desk display from the Karpowership South Africa's CCO, offerings from the Chinese Ambassador, gifts from a United Arab Emirates Minister, the Chinese Energy Conference, and several gifts from Chinese businesspersons.
Despite his substantial portfolio, it does not include Gordhan's pension with the Government Employees Pension Fund. His collection also includes exchange-traded funds (ETFs), mainly feeder funds that invest in index-tracking funds in the United States and Europe, as well as a government bond ETF and a property ETF.