JSE companies’ boards to be targeted

by Allan Greenblo for Moneyweb News

Amid the razzmatazz in having provoked the national government on e-tolls, and its earlier stance in having opposed the re-election of President Jacob Zuma at Mangaung, the provincial body of the ANC in Gauteng has offered another input that has so far not received the attention it deserves. Potentially, it’s even more momentous.

It opens for consideration in SA something akin to the successful German model of corporate governance. Discarding the revolutionary clichés of party presentation, this could be the desired outcome.

Almost buried in the sectoral discussion paper, tabled at the annual ANC Gauteng conference in October, is a policy proposal focused on retirement funds; specifically, on overcoming the “inaction” of black members to use their rights as ultimate shareholders in the election of directors to the boards of companies where their funds are invested. Read more here.

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