Why The CEO Of Black Business Council Resigns After Supporting Gordhan

Black Business Council (BBC) CEO Mohale Ralebitso has resigned, with his last day at the organisation said to be the end of November this year.

Ralebitso plans to return to Itataise Investments, of which he is founder and chair. He only spent about a year at the BBC as its CEO.

At a media briefing in Johannesburg, the BBC denied that Ralebitso quit because he had been part of a group of 81 CEOs who were opposed to the charging of Finance Minister Pravin Gordhan.

“I extend my gratitude to the BBC for the trust it placed in me and the opportunity to serve South Africa,” Mohale said in a statement.

The BBC has come under fire from the likes of AngloGold Ashanti chairperson Sipho Pityana for throwing its weight behind President Jacob Zuma, especially amid the scandals surrounding the South African leader.

The BBC, in a statement handed to press on Tuesday that was dated October 11, also outlined how it viewed National Prosecuting Authority Shaun Abraham’s decision to charge Gordhan with fraud as not involving “political interference”.

The BBC’s members include associations such as the Black Management Forum, the Association of Black Chartered Accountants, and the Association of Black Securities and Investment Professionals.

In September, Pityana said he was disappointed in the BBC for publicly endorsing President Jacob Zuma, labelling this a “betrayal” that goes against the best interests of the country.

In a statement, Pityana expressed his concerns for the stance taken by the BBC. “The BBC is supposed to be an important and rational voice of black business leadership, of which I am a part.”

“I have always believed that, as black business leaders, we are united in our belief that South Africa deserves a leadership that is transparent, accountable and free from corruption,” he stated.

According to the Presidency, the BBC’s reasons for supporting the president include the progress made under Zuma’s administration in advancing black economic empowerment. This includes the establishment of a Small Business Development Department, the Black Industrialists Programme and the participation of South Africa in Brics and the participation of black business in the Brics Business Council.


Written by Mathew

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