SA ‘Gucci-styled CEO’ blows R322,000 on local and international trips

The National Empowerment Fund (NEF) CEO, Philisiwe Mthethwa, blew R322,373.58 in the last financial year on local and international business class flights; hotel accommodation; car rental; and subsistence allowances.

In a reply to a DA parliamentary question, it was revealed that Mthethwa spent R190,000 on three international trips alone, while flying business class for domestic trips, despite calls from government to cut back on frivolous expenditure.

Mthethwa, who is head of the fund that promotes and facilitates Black Economic Empowerment (BEE), is the wife of Minister of Arts & Culture, Nathi Mthethwa.

The DA called on the minister to urgently issue a directive that no DTI staff member, entity board member or CEO may fly business class if there are cheaper options available.

“The NEF has been plagued with funding shortages with (fewer) jobs being created – it is scandalous that the CEO is allowed to live the good life while so many South Africans struggle to find work,” said Dean Macpherson, DA Shadow Deputy Minister for Trade and Industry.

On the jobs front, the NEF has created only 2,213 jobs by the 22 February 2016 – or 40.8% of its annual target.

On the value of deals approved, the NEF has only achieved 80% of its annual target and only 70% of the new commitments target by 22 February 2016, with only a month left of the performance year.

“Ms Mthethwa is no stranger to controversy. In 2014 the DA revealed that she was the highest paid CEO in government entities pocketing R 5,208,143 – including R1,593,288 entitled ‘bonuses & performance payments’, and a further R637,315 which was a ‘long term bonus payment’. This was over and above her basic annual salary for that year.”

In the previous financial year, Mthethwa earned a basic salary of R2,421,512.

In questioning this outrageous salary by the DA, the NEF CEO was unable and unwilling to justify these ludicrous amounts when compared to the pathetic results achieved by the NEF, the DA said.

“It has now become abundantly clear that Minister Davies needs to reign in the Gucci-styled CEO and start putting black entrepreneurs first,” Macpherson said.

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SA ‘Gucci-styled CEO’ blows R322,000 on local and international trips