There is a witch-hunt against suspended South African Bank Note Company (Pty) Ltd's MD, Mr Musa Mbhele
January 12, 2011
What is really happening at the South African Bank Note Company (Pty) Ltd and its parent company the SARB? This is a pertinent question that is on every commerce enthusiast's mind. It gives rise to many unanswered questions such as: Is our country’s currency safe? Is the security of the notes we produce safe? And is our economy’s lender of last resort in good hands even? Recent media reports (e.g. Beeld, Sunday Independent to mention but a few) including the South African Reserve Bank’s own website which referred to, “operational problems” at the SABN, a company which is a subsidiary of the SARB, is a cause for concern. What are these operational problems that were referred to though and how do these problems impact on the smooth running of both institutions? Are we to deduce that the SABN is in shambles and by association, its parent company the SARB?. Well, in the world of commerce, “operations” is the bedrock of any company’s core functions and if there are problems in the engine room, then this spells doom and gloom for the entity concerned. It also means that the company won’t function optimally and consequently productivity will suffer and so will the bottom-line. A careful look into this assertion “operational problems” seems to suggest that this broad statement doesn’t reveal other underlying problems e.g. suspicion of fraud, theft, tender irregularities and inaccurate printing of some bank notes with weak security features. Are these “operational problems” not a strategy to lay a foundation for a future decision to outsource the printing of our bank notes, by creating a non-existent crisis?
There is something witching in the state of Denmark (sic SARB) as Sherlock once quipped in William Shakespeare’s book The Merchant of Venice?
What are these problems though and who is/are the cause/s of these “operational problems”? A senior member of the South African Bank Note, we hear, has been suspended for this misnomer (rightly or wrongly is yet to be established of course). On the face of it though and supported by our preliminary investigation, we have established that this is a classic (actually worse) case of a “fishing expedition” by the SABN board. In trying to get rid of their Managing Director (Mr Musa Mbhele), someone whom we believe is a very capable executive the board is possibly making a mistake. Had all avenues been explored before the ultimate decision was made to put the MD on special leave/suspension? It seems that the said MD has been wrongly suspended for what amongst other frivolous accusations is referred to as “incapacity by SABN to print bank notes and instead taking a unilateral decision to print bank notes for other countries”. Our investigation further reveals that his recent performance ratings (i.e. KPA’s) tell a different story about Mr Mbhele’s abilities otherwise a bonus, as reflected in the annual financial statements, would not have been paid – this is simple logic. Accordingly, there is more to this suspension than meets the eye and it is certainly not just or a mere “incapacity” by the company that he runs/ran which is the problem. What if the MD is perceived to be a hindrance by those who want to flout procurement procedure?
Could it perhaps be a case of the MD having fallen out of favour with the powers that be or those close to them which has led to the MD being suspended? Another look at their financial statements indicates that they have possibly 75% spare capacity which puts doubts on the charge sheet’s claims about incapacity. The question then is, why has the single most competent, efficient and effective manager been (short of fired)? The next set of questions to ask is or facts to establish is if there aren’t any ulterior motives which are a precursor to these accusations. Furthermore as a country, we need to know and establish if these so called “operational problems” could by any chance or at all emanate from personality clashes or untouchables who were investigated by the above-mentioned MD and/or even powerful/connected people whom he may have crossed paths with at some point? These underlying but not clearly identified problems are a cause for grave concern on the part of the Justice for all Forum. We can’t help but question the poor handling of the whole fiasco which, sadly, is customary in government entities where those who go on a with-hunt use every trick in the book in order to find guilt, even where there is none. Any country’s economy, a thriving one atleast, depends on its currency and if this trading tool is at risk, as citizens we have a right to know. Whilst we have a progressive constitution in this country with tough laws, some of which allow public access to information [(i.e. Public Access to Information Act (PAIA)] we intend to write to both institutions in order to establish some of the unanswered question.
In the case of the SABN, South Africa deserves to know about their capacity, what difficulty are they facing and establish if these are not conveniently man-made. Both these institutions must take us into their confidence and reveal all without necessarily putting the security of their sensitive information at risk. Failure to do so, without this being a threat, will result in the JFAF conducting its own in-depth investigation and make it available for public consumption.
Issued by the Justice for all Forum (JFAF), www.justiceforallforum.co.za “fighting for economic, social and judicial redress is our forte”
There is something witching in the state of Denmark (sic SARB) as Sherlock once quipped in William Shakespeare’s book The Merchant of Venice?
What are these problems though and who is/are the cause/s of these “operational problems”? A senior member of the South African Bank Note, we hear, has been suspended for this misnomer (rightly or wrongly is yet to be established of course). On the face of it though and supported by our preliminary investigation, we have established that this is a classic (actually worse) case of a “fishing expedition” by the SABN board. In trying to get rid of their Managing Director (Mr Musa Mbhele), someone whom we believe is a very capable executive the board is possibly making a mistake. Had all avenues been explored before the ultimate decision was made to put the MD on special leave/suspension? It seems that the said MD has been wrongly suspended for what amongst other frivolous accusations is referred to as “incapacity by SABN to print bank notes and instead taking a unilateral decision to print bank notes for other countries”. Our investigation further reveals that his recent performance ratings (i.e. KPA’s) tell a different story about Mr Mbhele’s abilities otherwise a bonus, as reflected in the annual financial statements, would not have been paid – this is simple logic. Accordingly, there is more to this suspension than meets the eye and it is certainly not just or a mere “incapacity” by the company that he runs/ran which is the problem. What if the MD is perceived to be a hindrance by those who want to flout procurement procedure?
Could it perhaps be a case of the MD having fallen out of favour with the powers that be or those close to them which has led to the MD being suspended? Another look at their financial statements indicates that they have possibly 75% spare capacity which puts doubts on the charge sheet’s claims about incapacity. The question then is, why has the single most competent, efficient and effective manager been (short of fired)? The next set of questions to ask is or facts to establish is if there aren’t any ulterior motives which are a precursor to these accusations. Furthermore as a country, we need to know and establish if these so called “operational problems” could by any chance or at all emanate from personality clashes or untouchables who were investigated by the above-mentioned MD and/or even powerful/connected people whom he may have crossed paths with at some point? These underlying but not clearly identified problems are a cause for grave concern on the part of the Justice for all Forum. We can’t help but question the poor handling of the whole fiasco which, sadly, is customary in government entities where those who go on a with-hunt use every trick in the book in order to find guilt, even where there is none. Any country’s economy, a thriving one atleast, depends on its currency and if this trading tool is at risk, as citizens we have a right to know. Whilst we have a progressive constitution in this country with tough laws, some of which allow public access to information [(i.e. Public Access to Information Act (PAIA)] we intend to write to both institutions in order to establish some of the unanswered question.
In the case of the SABN, South Africa deserves to know about their capacity, what difficulty are they facing and establish if these are not conveniently man-made. Both these institutions must take us into their confidence and reveal all without necessarily putting the security of their sensitive information at risk. Failure to do so, without this being a threat, will result in the JFAF conducting its own in-depth investigation and make it available for public consumption.
Issued by the Justice for all Forum (JFAF), www.justiceforallforum.co.za “fighting for economic, social and judicial redress is our forte”
Posted by Justice ForAllForum.
