Finance Minister must explain Mo Shaik’s appointment to DBSA post
Tim Harris, Shadow Minister of Finance
8 August 2012
The DA will be asking the Minister of Finance, Pravin Gordhan, to explain the appointment of Mo Shaik as the CEO of the new international division of the Development Bank of South Africa (DBSA), a position where he will manage R7.42 billion worth of investments in the South African Development Community.
As the shareholder's representative at the DBSA Minister Gordhan has a responsibility to ensure that the head of the bank's international division is properly qualified and able to manage the bank’s offshore investments. He needs to assure South Africans that due process has been followed in this appointment and that Mr Shaik's apparent political connections played no role.
I will be submitting parliamentary questions to the Minister of Finance to determine:
• What were the selection criteria in appointing the CEO of Development Bank International?
• How do Mr Shaik’s qualifications and experience satisfy these criteria?
• Who the other candidates were?
• What assessment process did Mr Shaik undergo before being appointed as CEO of Development Bank International?
• What is the exact breakdown of Mr Shaik’s remuneration package as CEO of Development Bank International?
• Where exactly was the post advertised?
According to DBSA chairperson Jabu Moleketi, Shaik emerged as the “strongest candidate” from four potential candidates. If this is the case, the public deserves insight into the selection process. The need for this is underlined by media speculation earlier this year that President Jacob Zuma may be attempting to "deploy" Mr Shaik to the position.
South Africans need to be assured that appropriate processes have been followed and that Mo Shaik has not simply been "deployed" for political reasons.