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Pravin Gordhan: What is unacceptable is attacks on families

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During his testimony at the Zondo Commission, Public Enterprises Minister, Pravin Gordhan, responded to EFF allegations against his daughter, claiming that she benefitted from government tenders.

“The witnesses appearing before the commission, like myself, are quite willing to be attacked politically, quite willing to be criticized politically, quite willing to be corrected if we presented wrong evidence, but it would be very nice if our critics come forward under oath and present themselves before this commission.” – Pravin Gordhan, 21 November 2018.

‘What I’m sure you would agree, Chair, is unacceptable, is attacks on families, so yesterday, while we were here, but even before yesterday, there were a whole lot of wrong information about my daughter that was put out in the public domain [sic]…” – PravinGordhan, 21 November 2018

“…I want to put forward the following for the record: This information about my daughter is for the public to understand that she has not engaged in any malfeasance of any kind. Secondly, she joined Investec Bank Limited, the private equity division, in 2007 and resigned in late 2017.  Thirdly, most financial service institutions, as many in this room would know, invest capital. Either they own money or third party investor money in emerging privately-owned businesses. Fourthly, the private equity division at Investec invested in privately-held companies on behalf of Investec bank, not on her own behalf [sic].”– Pravin Gordhan, 21 November 2018.

“Fifth, Investec… the bank concerned…therefore is the owner of the shares that they buy – not my daughter. It’s the bank that owns that share of these private businesses….She was an employee in this division and part of a team of 12 equity professionals who were appointed as non-executive directors to the boards of these companies as a representative of Investec, as the owner of the shares. Sixth, private equity professionals from this team represented Investec on the boards of each company. It’s not her money. Their job is to look after the money of the bank and the investors [sic].”– Pravin Gordhan, 21 November 2018.

‘Seven, she did not benefit financially in any way. She did not own any shares in these businesses directly and did not benefit from any directive fees. The fees go to the bank, not to her or to the employee…Eight, she was not a member of the management of executive teams of these businesses. Nine, none of the directorships of my daughter held were in her personal capacity and were always on behalf of her employer.” – Pravin Gordhan, 21 November 2018.


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