Babalwa Ngonyama condemns UCT’s corporate bullying tactics
1 February 2024
Former University of Cape Town (UCT) Council Chair, Babalwa Ngonyama, has condemned UCT – in particular members of the UCT Council - for its threatening and intimidating attacks on her and anyone affiliated to her, calling out its corporate bullying and inhumane, persecutor approach.
This is in response to a letter sent by UCT’s Joint Investment Committee (JIC) and Chair of Council, Norman Arendse, to Camissa Asset Management (Camissa), in which Ngonyama’s business, Sinayo, holds a vested interest.
The letter implies threats of the withdrawal of investment funds placed by the JIC with Camissa, because dividends received by Ngonyama through Sinayo’s shareholding could be used to fund the legal battle Ngonyama is pursing against UCT.
Camissa manages R60 billion in assets, with R291 million assets under management placed by the JIC. With an impressive 21-year track record, the strong investment house, as referred to in the letter, has performed exceptionally well and won numerous awards.