I am an ANC member who has been elected to leadership positions, but I am not an employee of the ANC or any government department
. As a board member of the DBSA, I am guided by the same fiduciary duties as other board members. I follow the same good governance principles as my fellow board members, and if and when any conflict arises it will be dealt with formally, in the same manner as such conflicts would be dealt with by other board members.
It was never the intention of the relevant legislation — such as the Financial Intelligence Centre Act — to preclude such persons and their family members from conducting their daily lives and the honest pursuit of their livelihoods. What is required by the legislation is the kind of enhanced scrutiny that allows for the careful assessment of the sources of wealth and funds of such persons.
These institutional differences have important implications for the mandate and governance of development finance entities. Historically, development finance institutions have been established for economic reasons, such as to address scarcity of financing and to deal with other market failures.Some institutions have narrow, specific mandates, such as infrastructure development, promoting small, medium and micro enterprises or mass housing.
The DBSA, like most development finance institutions, is not capitalised by the state and as such it must go to the markets to raise capital. In the competitive environment for scarce resources, the DBSA has to meet stringent governance protocols comparable to its private sector competitors.The DBSA thus has long-established and strong processes for managing any conflicts of interests that may arise for its board members. Good governance is at the heart of the DBSA’s work.
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