By Alec Hogg
Five years ago, Harith founder Tshepo Mahloele invited me to hear his response to many allegations about him plastered in the popular press. A low-profile entrepreneur, Mahloele’s attempted response was ignored by a media corps which had picked a side, swallowing politician Bantu Holomisa’s allegations he was the kingpin of a corrupt network.
___STEADY_PAYWALL___Our three-hour meeting was an eye-opener. Mahloele’s openness and repeated offer to expose whatever I wanted to see were impressive. But, after calling around, so, too, was his reputation. He had been a member of FirstRand’s “Class of…” with Michael Jordaan and Herman Bosman – and appeared to have carried those values into his enterprises.
Our relationship evolved into a business partnership after he acquired a small share in BizNews ahead of acquiring ownership of the media company now known as Arena. Throughout all these years, I have never had reason to doubt that what he told me in 2018 was 100% correct.
Yesterday, a fifth investigation concluded what the other four had done – Holomisa’s potentially ruinous allegations were baseless. So now Mahloele wants blood, specifically punitive damages, taking his argument to the Constitutional Court if necessary. Because without such a deterrent, he says, there are sure to be more of these no-consequence type attacks by other Holomisas. He has a point.
More for you to read:
- Meet Dr Marc Liebscher, the German White Knight riding to the rescue of Steinhoff’s retail shareholders. Click here.
- Prof. Tim Noakes explains how humans evolved to eat fat and protein and how carbohydrates have led to the prevalent diabetes and obesity pandemics. Click here.
- A new paper co-authored by Wharton’s Nikolai Roussanov uses machine learning to construct investment portfolios that ensure predictability of returns in a world of changing risks. Click here.
