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Cosatu investment CEO resigns

By Business Day, Sapa | Apr 04, 2012 | COMMENTS [ 6 ]

The CEO of Cosatu’s investment arm Kopano Ke Matla has resigned as non-executive chairman of road construction company Raubex to prevent a perceived conflict of interest

Marake Matjila resigned on Tuesday, Business Day reported.

Raubex said Matjila considered it appropriate to resign to prevent any perceived conflicts of interests given that the company was involved in national roads privatisation projects.

City Press reported on Sunday that Kopano Ke Matla had shares in Raubex, which won a tender to build the R21, which forms part of the Gauteng Freeway Improvement Project. These roads will be tolled to pay for their construction.

Raubex received R800 million for the project.

Kopano Ke Matla holds 3% of Raubex, so it would have received R24m as a result, according to the weekly. This would mean that the Congress of SA Trade Unions (Cosatu), which had been vehemently against the toll roads, stood to benefit from them.

COMMENTS [ 6 ]

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Is it for damage ccontrol????????

I wonder if COSATU members get dividends from profit made by the investment arm or does it go to the top brass..........

Everyone is being scr.ewed even those that should protect the scre.wee.s turn out to be scr.ewer.s as well.......................

Apr 04, 2012 9:59 | 0 replies

Give Matjila bells

Apr 04, 2012 10:16 | 0 replies

Are your pockets full enough? Giving others a chance to refill I see.

Apr 04, 2012 11:0 | 0 replies

So Vavi knew about Kopano indirect involvement in the E-Tolling of Gauteng roads?

Apr 04, 2012 11:6 | 0 replies

@Papage my thought exactly so something might have not worked out for him to turn and ask for the public to boycott the system with him.

Apr 04, 2012 11:29 | 0 replies

Damn hypocrites eating on one hand and pretending to represent the very people you steal from....

Apr 04, 2012 2:31 | 0 replies