FMF NEWSLETTER 4 August 2021

4 August 2021

DBSA fails to justify the undermining of its investment mandate – Jacques Jonker

SA Airways (SAA) has been thrown multiple lifelines over the past decade. Among others, the Development Bank of Southern Africa (DBSA) also stepped in. The bailout it provided was extremely irresponsible and, as Business Day editor-at-large Carol Paton pointed out, went against the bank's investment mandate ("Pravin Gordhan’s breathtaking manipulation of the Treasury over SAA”, June 21).

What is interesting is that soon after Paton's article was published, DBSA chief economist Zeph Nhleko penned an op-ed in Business Day wherein he defended the bank’s investment mandate by stating that the bank "funds large movable assets because they fall within its mandate" (“DBSA mandate is economic prosperity for the Southern African region”, July 8).

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