Shuttleworth shares Sarb win with Africa

2014-10-01 19:10
(Picture: Beeld)

(Picture: Beeld)

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Cape Town – South African billionaire Mark Shuttleworth, has donated over R250m in the fight to uphold constitutional rights for all Africans.

The Supreme Court of Appeal (SCA) on Wednesday ordered the Reserve Bank return R250m to Shuttleworth, after he won his exchange control case, reported.

The SCA found that administrative and procedural fault with the Reserve Bank’s actions and ordered them to return the fees levied.

In a statement Shuttleworth said: “I will put the returned funds of R250m plus interest into a trust, to underwrite constitutional court cases on behalf of those whose circumstances deny them the ability to be heard where the counter party is the state.”

He said the funds would be committed to a trust run by veteran and retired constitutional scholars, judges and lawyers, that will selectively fund cases on behalf of those unable to do so themselves.

“The mandate of this trust will extend beyond South African borders, to address constitutional rights for African citizens at large, on the grounds that our future in South Africa is in every way part of that great continent.”

Shuttleworth said he was also considering the continuation of the case in the Constitutional Court, to challenge exchange control on constitutional grounds and ensure that the benefits of Wednesday’s ruling accrue to all South Africans.

“This is a time in our history when it will be increasingly important to defend constitutional rights. Historically, these are largely questions related to the balance of power between the state and the individual.

"For all the eloquence of our Constitution, it will be of little benefit to us all if it cannot be made binding on our government. It is expensive to litigate at the constitutional level, which means that such cases are imbalanced – the state has the resources to make its argument, but the individual often does not,” he said.

Read more on:    reserve bank  |  mark shuttleworth  |  bloemfontein

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