DBSA Response to UDM Allegations

2020-10-24

The DBSA appreciates that Mr. Bantu Holomisa, like all citizens of the Republic of South Africa, wields the right to query the operations of any state-owned entity.

In exercising that right, he has addressed his communication to the Standing Committee on Public Accounts (SCOPA) Chairperson for consideration. There are processes that this kind of civic engagement follows, and if in the course of these processes this matter is considered for further engagement by SCOPA, the DBSA will cooperate accordingly.

The DBSA, however, notes with concern, the claims contained in Mr. Holomisa’s submission. The DBSA categorically denies the allegations of maladministration, corruption and mismanagement; these are neither true nor grounded in fact. Further allegations regarding engagements with and of former board members are libellous at best, and the Bank has every confidence that these allegations will be dismissed by the appropriate forums.

Since inception, the DBSA has been in the business of assessing and taking risk, with the objective of material developmental impact to the people of South Africa. Its risk assessment is critical in the functioning and reporting of its financial position.

As a globally reputable Development Financial Institution, the DBSA is proud of its stellar record in working with clients in distress to achieve successful recoveries. The governance aspects regarding provisioning, and in the event of a client write off, are strictly subject to extensive scrutiny by various internal bodies of the Bank, its management committees, its board committees and its external auditors.

At all levels, the Bank subscribes to the highest standards of corporate governance, integrity and ethics. It is a commitment that is guarded jealously and is intrinsic in every step the Bank takes in fulfilling its pivotal role of delivering developmental infrastructure in South Africa, and across the African continent.

End.