Frans Baleni has been appointed the trustee and new chairperson of the Board of Trustees of the Government Employees Pension Fund. Picture: Supplied
The Government Employees Pension Fund (GEPF) has appointed former trade unionist Frans Baleni as a trustee and new chairperson of the Board of Trustees, following the resignation of the former chairperson, Dondo Mogajane, last month.
Baleni is a former general-secretary of the National Union of Mineworkers and currently serves as a director in a number of boards.
The GEPF, the largest pension fund in Africa with more than R2.3 trillion in assets under its management with around 1.2 million active members and about 500 000 pensioners and beneficiaries, yesterday said Baleni was appointed chairperson at the board sitting of 11 December 2024.
“The GEPF Board of Trustees expresses its confidence in the leadership of Mr Frans Baleni and believes that Mr Baleni’s strategic vision and vast experience will be instrumental in guiding the Fund towards its objectives, while ensuring the continued financial sustainability of the Fund for the benefits of its members and pensioners,” it said.
“GEPF looks forward to the valuable contributions that Mr Baleni will bring to the Board as the Fund navigates the challenges and opportunities that lie ahead.”
Mogajane, the former director-general of National Treasury, stepped down from all professional roles and the boards that he served on last month, including as CEO of the Moti Group, following months of public pressure over allegations linking him to the looting of VBS Mutual Bank.
Mogajane allegedly accepted a R1 million “gratification” when he was director-general of National Treasury from convicted former chairman of VBS Mutual Bank, Tshifhiwa Matodzi, in order to allow the defunct bank to continue taking municipalities deposits in contravention with the law.
Matodzi had claimed that the R1m bribe to Mogajane was to facilitate the withdrawal of the circular issued by National Treasury in August, 2017 warning municipalities that deposits made at a mutual bank contravened municipal finance regulations, and were not allowed.
Mogajane labelled allegations against him as “unfounded and malicious” made by a convicted criminal with questionable motives. - Siphelele Dludla.
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