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Giving could sink Tokyo

By unknown | May 21, 2007 | COMMENTS [ 0 ]

Kingdom Mabuza

Kingdom Mabuza

Top businessman Tokyo Sexwale's "generosity" could put paid to his hopes of becoming the next president of the ANC .

Sexwale allegedly gave a number of influential people, including senior ANC politicians, a journalist and a former spy chief, free shares.

The "giving spirit" of Sexwale emerged yesterday, a week after he announced he would be available for the presidential race should he be approached.

According to a Sunday paper, Sexwale gave Batho Bonke shares - valued at R69 each - to, among others, director-general of the National Intelligence Agency, Manala Manzini (41803 shares), former Mpumalanga premier Mathews Phosa (217500), Natal Judge President Vuka Tshabalala (100000), former Northern Cape premier Manne Dipico (200000) and SABC political editor Sophie Mokoena (45800).

Sexwale's spokesman, Chris Vick yesterday said: "Batho Bonke is the very definition of broad-based black economic empowerment, and the process of building a broad shareholder base was one of the most inclusive."

Key principles had been adhered to. Recipients had to be black people "of some standing", and who had not materially benefited from previous empowerment deals.

"Batho Bonke was asked to build a broad base of shareholders across all levels of society. To suggest any other motive is an insult to the integrity of the shareholders and to the million beneficiaries in South Africa," he said.


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