The following is the reply from the Takatso Consortium to various points made by RW Johnson about them in his recent article “The slow process of dispelling ANC illusions about privatisation”, Politicsweb, 19 August 2021:
Mr Jabu Moleketi is not a member of the South African Communist Party after resigning from the party many years ago. Mr Moleketi resigned from government in 2008 – 13 years ago. And since then, he has been a board member of several companies, listed and unlisted. These include Vodacom, Momentum, PPC, and Brait, amongst others. He doesn’t hold any political office either in government or ANC and therefore any insinuations of ANC political links are disingenuous and not based on fact.
Tshepo Mahloele is not an ANC contributor. A forensic investigation was conducted to this effect when Mr Bantu Holomisa initially made these allegations and were found to be false, malicious and unsubstantiated. Mr Mahloele is a well-established businessman with a track record of investing in infrastructure as a specialised asset class, including key transport assets like Lanseria airport. Mr Mahloele founded Harith and has grown it into one of the largest investors in African infrastructure.
Harith - Harith is not an ANC aligned vehicle. Harith has over USD1bn of private funds invested in transport, power and ICT assets across Africa, and partners with some of the largest investors in Africa on its projects. Harith has been cooperating with the PIC investigation panel as per the recommendations of the Commission.
Added to that, the Harith Board conducted its own independent probe in line with the recommendations of the Commission. The independent probe confirmed what was already established– that its investment practices and management fees are in line with industry norms.
These fees were negotiated and agreed with Harith institutional investors comprising banks, insurance companies, pension funds and development finance institutions. The Southern African Venture Capital and Private Equity Association (SAVCA), of which Harith a member, confirmed these facts that Harith’s management fees to its investors are in line with industry norms and standards. To that end, SAVCA found no basis to suspend its membership based on the PIC Commission Report.