'Covid-19 created bad behaviour': Mboweni warns of dodgy business

26 January 2023 - 10:00
subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now
Former finance minister Tito Mboweni. File photo.
Former finance minister Tito Mboweni. File photo.
Image: Esa Alexander

Tito Mboweni has warned of dodgy foundations, claiming they have become nothing more than moneymaking schemes.

The former finance minister took to social media recently to warn about the emergence of sketchy foundations.

“Covid-19 has created bad behaviour. One of the crowd-fundraiser strategies is to create a foundation. 

“The concept of a foundation has lost its meaning. It has become an income-generating business. Watch out,” said Mboweni.

Previously, Mboweni shared that nothing irked him more than people taking shortcuts and not following procedures to get a job or contract. He made it known that he was not the guy to contact for connections, saying he doesn’t have any. 

“There is nothing that irritates me more than when people ask me to call people or connections for this or that job or contract,” said Mboweni. “Follow the procedures and standing orders. Please don’t call me for that kind of thing. I don’t have connections.”

Mboweni also made it known that he is not into dodgy business.

Delivering a lecture at Rhodes University on values-based leadership, Mboweni spoke out against the harsh effects of corruption on economic growth.

He said leaders who used their position to steal contributed to the deterioration of society.

“Sadly, there are too many people in positions of leadership and power throughout the global political, economic and financial system who do not seem to realise the consequences of participating in or condoning corruption,” said Mboweni.

“There is no 'excusable' corruption. Whatever the form of corruption, it is imperative that the perpetrators are pursued and face the full wrath of the law. It is only then that we can halt the pervasive rot in all sectors of our society.”

Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.


subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.