ALLAN GREENBLO: Did Mboweni think this one through?
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With so much on the plate of finance minister Tito Mboweni, who is trying to generate a little warmth for the SA economy, it’s perhaps unavoidable that a few crumbs will fall off. One recently did. It relates to Mboweni’s appointment of Dube Tshidi to “perform the functions of commissioner” at the Financial Services Conduct Authority (FSCA).
The appointment runs for three months, until 5 November, or until a new commissioner assumes office, whichever is the sooner. The search for a commissioner has so far taken the National Treasury more than 52 months, during which Abel Sithole, now at the Public Investment Corp, was acting (pun unintended).
Tshidi had a long career at the Financial Services Board; so long that he’s several years past retirement age. The board was the predecessor of the FSCA, where Tshidi, the former FSB executive officer, has headed the transitional management committee (2018-2019 remuneration R7.5m).
Mboweni seemingly hadn’t attempted to test the FSCA’s internal waters. The first executive response didn’t take long.
Within a few days of Tshidi’s appointment, FSCA divisional executive for regulatory policy and previously FSB deputy registrar Caroline da Silva gave notice of her intention to resign. The FSCA’s announcement of her resignation tersely stated: “At this stage Caroline has no plans on the next chapter of her career.”
One can read into this what one will. Da Silva might or might not have been in the running to become at least a FSCA deputy commissioner. Nonetheless, the timing of Tshidi’s appointment and Da Silva’s resignation implies something less than coincidence.
More curious is the timing that relates to a judgment in the Pretoria High Court. Though dated May 13, it was issued to the parties only on August 21. The main parties were attorney Tony Mostert and the public protector. Acting Judge Brad Wanless had denied Mostert leave to appeal against punitive costs previously awarded against him.
Strangely, August 21 was a fortnight after Mboweni’s appointment of Tshidi. So it’s possible that Mboweni was unaware of the Wanless judgment dated May 13. However, it’s impossible that he was unaware of the matter that lay behind it.
This is because, in her report of March 2019, the public protector had instructed: “The minister of finance [should] note my findings.” The report was on her “investigation into allegations of maladministration, abuse of power and improper conduct by the former executive officer of the ...
The appointment runs for three months, until 5 November, or until a new commissioner assumes office, whichever is the sooner. The search for a commissioner has so far taken the National Treasury more than 52 months, during which Abel Sithole, now at the Public Investment Corp, was acting (pun unintended).
Tshidi had a long career at the Financial Services Board; so long that he’s several years past retirement age. The board was the predecessor of the FSCA, where Tshidi, the former FSB executive officer, has headed the transitional management committee (2018-2019 remuneration R7.5m).
Mboweni seemingly hadn’t attempted to test the FSCA’s internal waters. The first executive response didn’t take long.
Within a few days of Tshidi’s appointment, FSCA divisional executive for regulatory policy and previously FSB deputy registrar Caroline da Silva gave notice of her intention to resign. The FSCA’s announcement of her resignation tersely stated: “At this stage Caroline has no plans on the next chapter of her career.”
One can read into this what one will. Da Silva might or might not have been in the running to become at least a FSCA deputy commissioner. Nonetheless, the timing of Tshidi’s appointment and Da Silva’s resignation implies something less than coincidence.
More curious is the timing that relates to a judgment in the Pretoria High Court. Though dated May 13, it was issued to the parties only on August 21. The main parties were attorney Tony Mostert and the public protector. Acting Judge Brad Wanless had denied Mostert leave to appeal against punitive costs previously awarded against him.
Strangely, August 21 was a fortnight after Mboweni’s appointment of Tshidi. So it’s possible that Mboweni was unaware of the Wanless judgment dated May 13. However, it’s impossible that he was unaware of the matter that lay behind it.
This is because, in her report of March 2019, the public protector had instructed: “The minister of finance [should] note my findings.” The report was on her “investigation into allegations of maladministration, abuse of power and improper conduct by the former executive officer of the ...