IN theory there appears to be nothing wrong with setting up of private foundations by powerful public figures, especially politicians. This is because, ostensibly, the funds they solicit for the work of their foundations is philanthropic and assist those who are vulnerable.
But there is something very disturbing about the operations of these foundations. This is especially so if they are founded by active politicians in powerful positions such as, for example, an incumbent president. Most critically, why should such private foundations solicit money from entities that are publicly funded, for example SOEs?
The questions that arise are these: why should an incumbent president who wields so much power be asking for donations from SOEs? Is this not some form of indirect coercion of the SOEs to fund people who are effectively the employers of the CEOs? What latitude does a CEO of an SOE have in refusing an incumbent president when they request donations for their foundations?
Indeed, why should the public money be donated for private interests to be disbursed according to the wishes of the recipient?
These are some of the issues that society takes for granted and never question but are very troubling.
Dr Thabisi Hoeane Pretoria