Ricochet News

ECDC Suspends Company Secretary Advocate Dalubuhle Mbelani

DECEMBER 18, 2014
ECDC Suspends Company Secretary Advocate Dalubuhle Mbelani

Development financier, the Eastern Cape Development Corporation (ECDC) on Wednesday announced the suspension of its company secretary over allegations of serious misconduct, gross insubordination as well as gross negligence.

The ECDC said it took the decision to place the company secretary, Advocate Dalubuhle Mbelani, on paid precautionary suspension with immediate effect pending the finalisation of an internal investigation process.

This investigation will look into:

  • alleged serious misconduct and gross insubordination in failing to cooperate with an internal review of the company secretary function which the Board of Directors commissioned; as well as,gross negligence in discharging the duties of the company secretary function thereby compromising the effective and efficient functioning of the corporation and its governance structures.
  • The board wishes to note that the suspension is a neutral act intended to minimise disruption to the business and protect the interests of the employee and the employer while an investigation is being conducted and finalised.

“For the purposes of fairness and due process, neither the Board nor ECDC will communicate further on this matter until the investigation is concluded,” the ECDC said.

The Board of Directors has legal obligations in respect of the Companies Act and the Public Finance Management Act and will execute their responsibilities in accordance with these legislative requirements.