Executive Editor of Business Report.
Executive Editor of Business Report.

OPINION: What lies beneath Tiso Blackstar’s fight to get Dr Daniel Matjila out?

By Adri Senekal de Wet Time of article published Jun 1, 2018

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CAPE TOWN - Tiso Blackstar's chief executive is using his titles of Business Day, Financial Mail and Sunday Times as well as freelance writers and so-called “opinion writers” to create a crude smear campaign against Public Investment Corporation (PIC) chief executive Dr Daniel Matjila. Why?

Chief executive Andrew Bonamour needs to tell South Africa what his crude curate campaign against Matjila is and what lies beneath such determination to get rid of him.

The truth is that Bonamour has sent his senior executives to meet with the PIC to try and persuade the continent’s biggest fund manager to merge Tiso and Independent. I’ve got proof of that. In my view, this is not good for media independence. The question is will Matjila allow that?

Facts are that the PIC lost more than R2billion by investing in Tiso Blackstar. Tiso is in debt with banks, big time. To the amount of multi billions. And Bonamour is struggling, or juggling. The performance of the Tiso share price tells the story.

People working with Bonamour told BR that it is “not easy to work with Bonamour”. He recently paid white editors bonuses, sources revealed. The question to ask is: Is Bonamour a corporate bully?

It is time for the truth to be revealed. I hereby challenge Bonamour to explain to the public what truly lies beneath his consistent attacks on Matjila? Having said that, I never thought that Bonamour is that powerful. He is a banker, after all. The only things that “empower” him, are his declining and loss-making titles. Is this perhaps a desperate (and hopefully last) attempt from Bonamour to convince political leaders to back him, so that he can acquire Independent Media?

Any objective reader will agree: Why on earth would anyone allow so much exposure in their newspapers in a smear campaign against their major competitor, for months? Think for yourselves.

Is this in the best interest of South Africa, and black and white South Africans? You don’t care Mr Bonamour, you never did, and you never will. I mean, you are a banker, after all. The facts are that your dividends are declining. You are not only losing market share, you are losing face.

Readers, the truth is that Bonamour is using his titles to get his hands on Independent Media. Unfortunately, Independent is not for sale, as far as I know.

Our chairperson Dr Iqbal Survé will continue to fight for the rights of all South Africans, black and white. He is not a racist, as you. It is true that you only paid special bonuses for white editors recently, right?

As the editor of Business Report, South Africa’s biggest national daily business newspaper, I will always fight for the rights of all South Africans. I will profile the successes of black entrepreneurs and will continue to strive towards a better South Africa for all. I take hands with our President, Cyril Ramaphosa, supporting his Yes Campaign.

We South Africans should stand together and create spaces in our titles to profile South Africa.


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