Question NW2717 to the Minister of Public Enterprises
21 December 2016 - NW2717
Alberts, Mr ADW to ask the Minister of Public Enterprises
Which company is currently in charge of the investments that the (i) Transport Pension Fund and (ii) Transnet Second Defined Benefit Fund make; (b) What role does a certain person (name furnished) play in making investments in both funds; (c) What are the specified person’s official positions and involvement in (i) Transnet, (ii) the Transport Pension Fund and (iii) the Transnet Second Defined Benefit Fund; (d) Who appointed him; and (e) Why was he appointed in the specified positions?
Reply:
(a) There is no company in charge of investments of the Transport Pension Fund and Transnet Second Defined Benefit Fund. The Boards of Trustees of the respective Funds are in charge of their investment activities.
(b) No role is played by the said individuals as the Board of Trustees of the respective Funds are in charge of the investment activities.
(c) The specified person’s official positions and involvement in (i) Transnet is that of a Non-Executive Director and Chairperson of the Acquisitions and Disposals
(d) Committee. He is also Chairperson and Trustee of the Board of Trustees of the (ii) Transport Pension Fund and (iii) Transnet Second Defined Benefit Fund respectively.
(d) All non-Executive Directors are appointed to the Transnet Board of Directors by the Shareholder Minister.
(e) The specified person was appointed in the specified positions on the basis of his academic qualifications and technical expertise on the activities of the Board of Directors, and the respective Funds.