The Presidency has confirmed that Phindi Kema, director of Africa Race Group, lodged a complaint on the presidential hotline two weeks ago.
Kema wants to know why Sascoc has been allowed to invest in the horse-racing industry, in the process pushing aside emerging businesswomen like herself.
She has complained to several institutions about the sports body holding 5% of Phumelela Gaming and Leisure through the sports body’s commercial arm, Gride Investments.
Phumelela is one of the major players in South African horse racing.
She also wants to know why Sascoc president Gideon Sam is allowed to be a trustee of Thoroughbred Horse Racing Trust, which holds 35% of Phumelela.
Kema said she wanted to know why, despite concerns raised by parliament two years ago, Sascoc has not withdrawn its investment in the horse-racing industry.
In November 2010, the parliamentary portfolio committee on sports expressed concern about Sascoc’s involvement in the Thoroughbred Horse Racing Trust.
In January, Kema lodged a complaint with publicprotector Thuli Madonsela, asking that she investigate Sascoc’s horse-racing affairs.
Sascoc chief executive Tubby Reddy denied receiving a letter from Kema. He defended the Phumelela investment and said Sascoc was a statutory body entitled by its constitution to invest in JSE-listed companies.
Madonsela’s spokesman, Kgalalelo Masibi, said the investigation was continuing and that the public protector was waiting for a report from Sports Minister Fikile Mbalula. Phumelela declined to comment.
Article source: http://www.timeslive.co.za/thetimes/2012/07/10/hold-your-horses-sascoc-told
