Business leaders must hold themselves to same standards demanded from govt - 10X founder
JOHANNESBURG - Corruption within government and state-owned enterprises (SOEs) has been very well covered, but not enough has been said about the role of the business sector, investment entrepreneur Steven Nathan said on Monday.
In a statement, Nathan, founder and CEO of 10X Investments, noted that the government and SOEs did not conduct business with themselves but rather with the business sector, implying it was complicit in corruption and had benefited from it.
“What people forget is that it takes two to tango, that there are two sides to corruption,” said Nathan, whose company is sponsoring the "Business Against Corruption" forum later next month. He urged business leaders to hold themselves to the same high standards they demanded from government.
“Quite frankly, many in the business sector have failed in this regard, which has allowed the government and SOEs to be dishonest and to benefit from corruption,” Nathan said.
The June 27 event will see Pravin Gordhan, minister of public enterprises in the administration whose term ended last Friday, and national director of public prosecutions Shamila Batohi join Dr Achieng Ojwang of the United Nations Global Compact, Business Leadership South Africa CEO Bonang Mohale and other local and foreign leaders to discuss how they can support President Cyril Ramaphosa tackle graft.
Nathan commended online publication Daily Maverick, which is hosting the event, for its role in exposing state capture, saying he looked forward to the results of the microscope being turned on South African businesses.
“We will all be served by more honesty and accountability in all spheres of business," he said.
- African News Agency (ANA)