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Cape Town - Finance Minister Pravin Gordhan holds shares in a wide range of listed companies, a document released by Parliament’s ethics committee on Tuesday showed.
The 2016 register of members’ interests lists the financial interests of the members of the National Assembly and the National Council of Provinces, and the gifts they have received.
Gordhan's interests, ranging from as little as R200 to R200 000, show he is invested in some of the biggest JSE-listed companies. His portfolio of shares span from major banks, mines, brewers, real estate investment trusts to retailers, telecommunications and transport services. Some of the big names include MTN, Pick n Pay, Steinhoff, Growth Point, Naspers, Tiger Brands and Aspen.
The minister also disclosed gifts with a total estimated value of R3 000 received from Nestle, the embassy of Palestine, Iran and businessman Koos Bekker and his family.
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Political analyst Daniel Silke told Fin24 any serving MP or minister can own shares in listed companies.
"Indeed, most state pension schemes have similar portfolios and other related entities including some political parties and trade unions."
He said the holding of banking stock should simply be seen in the same light.
"If Gordhan faces criticism for this, then any state related entity investing in similar companies should suffer the same critique."
Referring to the latest banks collusion scandal on currency trades, Silke said the private sector and South Africa's banks remain global leaders notwithstanding the illegal and rogue activities of wayward currency traders.
The Competition Commission last week referred a collusion case to the Competition Tribunal for prosecution against 17 banks, including three of South Africa's big banks.
READ: Lobola, tea, lots of wine declared by MPs
Fazela Mohamed, who played an advisory and consultative role to MPs on the requirements of the code of ethical conduct for over 18 years, explained the importance of the code.
“The importance of the code is that it permits business activity. It says there is a recognition that MPs are not here permanently. It’s a check and balance in a democracy," she told City Press in an exclusive interview more than a year ago.
“It says you are allowed to have financial interests because you realise people move in and out of politics, and that when you leave, there is another life for you out there.”
News24 reported that MPs who did not meet the deadline to submit their financial interests and gifts will be given seven days to explain why they failed to do so.
President Jacob Zuma does not have to declare his interests in this register, but declares them to the secretary of Cabinet.
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