Industry Members

PRESS RELEASE
08 August 2011

With regard to recent media reports around the issue of disclosure by the chairman of the Estate Agency Affairs Board (EAAB), Mr Thami Bolani, of moneys received from EAAB by NCF Consulting through adverts placed in the Consumer Fair publication, the EAAB Board would like to express its full support of the chairman. 

The Board highlights the fact that there have not been any audit findings alleging any contravention of the Public Finance Management Act (PFMA) by Mr Bolani in his capacity as a board member and chairman of the Board. 

Full disclosure was made by Mr Bolani when he became a board member.  The Board Charter is very specific and clear that ‘a Board member who has real or prospective interest in any of the business of the Board shall declare as soon as the Board member becomes aware of such a specific interest on first appointment and once every year thereafter.’

It must be stated that the decision to advertise in the Consumer Fair Newspaper was taken long before Mr Bolani became a board member of the EAAB and later on Chairman.   The Department of Trade and Industry (dti), its agencies and other department also advertise in this newspaper which is distributed free to the consumers across the country.

Although Mr Bolani was not aware of any investigation conducted against him until the allegations in the Sunday Times report of 7 August 2011, he has expressed his full cooperation in this regard.

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08/08/2011

For more information contact:

Marketing & Communications Dept
Estate Agency Affairs Board
Tel: 011 731 5600