home Featured, Politics Sipho Pityana costs AngloGold Ashanti R1.2 billion

Sipho Pityana costs AngloGold Ashanti R1.2 billion

By BO Staff Writer

Sipho Pityana, one of the leaders of Save South Africa (Save SA), couldn’t save AngloGold Ashanti Ltd (AngloGold Ashanti) a whooping R1.2 billion in the last financial year. Pityana is the non-executive director of the beleaguered company. Anglo Gold Ashanti is one of the entities which belonged to the Oppenheimer family. It was inherited as part from the wealth created by Cecil John Rhodes. Rhodes used the colonial state to loot the wealth of the nation, to create more wealth and to repress the legitimate resistance of the people in this respect.

The Oppenheimer family promoted Pityana with the hope that he would safeguard the interests of white monopoly capital and to this end ensure super profits for them. Unfortunately this was not to be. Pityana spent too much time fighting political battles against President Zuma and forgot to manage the asset given to him by the powerful family.

AngloGold Ashanti is in a massive mess – thanks to Pityana. Amongst the loses it faces are the silicosis claims by former mine workers. The company has lost the case and must pay the ailing mine workers who were poisoned by the silica dust that they were forced to breath in unsafe working conditions so that super profits could be generated for the big business. The company is also facing nationalisation of its assets in Tanzania. In Ghana, the Zama Zama miners have taken over some of its operations. In SA the company aims to retrench 8500 workers.

What is clear is that Sipho Pityana couldn’t save AngloGold Ashanti – this raises serious doubts about how he is going to save SA. Right now the Gupta owed Oakbay looks like an angel compared to the mess that AngloGold is in. In this context it must be noted that AngloGold Ashanti is not fighting against the closure of its bank accounts like Oakbay is. The irony of the situation is that the Guptas are saving 8500 jobs by selling their shares in Ann7 and The New Age (TNA) to a reliable new owner, while Sipho Pityana is overseeing the destruction of 8500 jobs.

Pityana failed to save the workers their jobs. He also failed to save the company R1.2 billion. How can he save SA?

 

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