Pretoria – Johannesburg mayor Parks Tau has been cleared of all allegations that he benefitted financially from a consortium in which his wife is a shareholder.
According to the outcomes of the investigation conducted into the matter, it was found that the mayor had made full disclosure of his wife’s shareholding in the City’s Register of Councillors’ Interests.
Addressing the media, the Chief Whip of Council, Prema Naidoo, said the report by the Integrity Commissioner vindicates Tau and proves he acted with honour.
“The repeated reports which contained unfounded allegations have done irreparable damage to the reputation of the executive mayor as a respected and trustworthy leader of South Africa’s most prominent city.
“We believe there should be a prominent retraction and a full apology to the mayor and his wife,” Naidoo said.
The mayor’s wife, Pilisile Twala-Tau, is a minority shareholder in Coral Lagoon, which holds a 1% share in Capitec Bank.
Regiments Capital, another shareholder in Coral Lagoon, was appointed in 2006, together with Umbono Fund Managers, to manage the City’s Sinking Fund for a period of five years.
The investigation into the mayor’s conduct was sparked by media reports that he benefitted from the company.
Following the reports, the mayor requested the Public Protector to investigate the matter.
The investigation found that there had been no improper conduct by Tau and that the appointment of the companies by the city had been above board. – SAnews.gov.za
