Business Report Executive Editor Adri Senekal De Wet asks tough questions on Tiso Blackstar pensions

TISO BLACKSTAR Group chief executive Andrew Bonamour has been accused of stealing pensioner’s money, according to a Noseweek article published recently. I contacted Bonamour yesterday in an attempt to discover the truth. Bonamour replied:

“You have managed to blend b **** it from Noseweek with BLF (Black Land First) diatribe without even bothering to do any journalism! “These are the facts: “We have done nothing to take anything from the pensions of employees past or present. The issue you may be referring to is the post-retirement medical aid subsidy, which has been capped, not removed.

“The Noseweek article is a fabrication and I reserve all my rights regarding the publication or republication of these allegations.

“Perhaps you have been misinformed, but Johann Rupert has nothing to do with Tiso Blackstar or myself as a shareholder or anything else for that matter. Met him once when he won ST lifetime achiever award.”

I felt it right and responsible to ask Bonamour if he could confirm the content of the Noseweek article.

I asked if it is true that he and his partner stole any hard earned pensioner’s money, and if so, how they could justify such grossly unethical, not to mention criminal, behaviour.

The unanswered question revolves around the transparency, or lack therefore, regarding full admissions to his shareholders, such as the Public Investment Corporation (PIC).

I challenged Bonamour yesterday to, as a responsible corporate citizen, answer our questions truthfully. His rude reply is noted. I am not asking for much, just the unvarnished truth. Editor’s note: The PIC’s investment value in Tiso Blackstar reduced by two thirds in “recent times”.

“It turned out we didn’t see eye to eye on a lot of investment criteria or ways of going about business… the difference between us: when asset strippers walk past a field and see a cow and a bull, they see meat. I see a potential herd”.