19 Cabinet members have private business interests

2014-07-27 01:39

Nineteen members of President Jacob Zuma’s new Cabinet – including the president himself – have private business interests.

According to the Companies and Intellectual Property Commission (CIPC), just more than a quarter of Zuma’s 72-member Cabinet are directors of active companies.

CIPC records show President Zuma owns one active company called Michigan Investments, registered in 1992.

But according to presidency spokesperson Mac Maharaj, the company is dormant and has not been trading. “We are looking at having it removed from the CIPC register,” he said. It has been reported Zuma intended to resign his directorship but the company remains listed as active. It is unclear what sort of work the company does.

Fewer Cabinet members of Zuma’s second presidential term have business interests when compared with his first Cabinet of 2009, in which 27 ministers and deputy ministers were listed as company directors.

Ministers and MPs have until August 15 to make full declarations of their business interests to Parliament. But union federation Cosatu has insisted that simply declaring one’s interests is not good enough.

Hennie van Vuuren, a research associate with the Institute of Justice and Reconciliation, said the ministers may have exposed themselves to an offence in breaching the Executive Members’ Ethics Act by undertaking paid work.

» Get City Press newspaper today for the full story.

Cabinet Inc

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