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.

Ngonyama says the unwarranted targeting by UCT has been aimed not only at her, but also her family, friends and fellow business directors and associates too, and now also direct and indirect benefactors of the JIC or Retirement Fund.

“What is most concerning is the implied use of the JIC and Retirement Funds by UCT as a platform to pursue political agendas. The JIC and the Retirement Fund is expected to operate independently through its independent committees and board of trustees. It is crucial to emphasise that the funds allocated to the JIC, through bequests in wills, are intended for developmental purposes, devoid of predetermined and speculative political vendettas. This principle extends to the management of the Retirement Fund of the employees as well.”

Ngonyama says that the insinuation that the legal battle against UCT could influence or utilise the dividends that may result from the funds managed by Camissa, directly or indirectly through her company, is “not only unfounded but once again targets me with an objective of ensuring that I cannot proceed with the legal battle against UCT”.

Ngonyama previously served on the Board of Camissa and others, but resigned in November 2023 due to the alleged unlawful exploitative pressure exerted on her - and the boards of companies on which she served - on multiple fronts by members of the UCT Council.

“UCT’s threats, intimidation, attempts at sabotage and invasion of my personal business relationships is tantamount to covert bullying and psychological intimidation,” said Ngonyama.

“The ongoing legal dispute with UCT is entirely separate from the operations of my business and its shareholding in Camissa Asset Management," says Ngonyama. “UCT has requested through numerous channels that I drop the case against them, and now its efforts to cut-off revenue sources further demonstrates the concern they have with the process that was followed.”

Ngonyama says she will continue to reject and challenge UCT and the report of the panel, as its findings and recommendations against her “were based on one-sided, unproven and unchallenged allegations. The process that was followed was unfair and infringed on my rights to dignity to be heard in a fair, transparent and impartial process.”

“Instead of filing the required information at the Western Cape High Court so that the court can rule on the fairness of the process, the UCT has chosen to attack me personally in a hope of destroying my reputation on all fronts. The attempted assassination of my character is the ultimate goal as this satisfies the political grandstanding that is being perpetuated by various factions within UCT. I dismiss the recent bullying by UCT Council members and look forward to the outcome of the High Court,” says Ngonyama.

“I remain committed to upholding UCT’s ongoing positive influence in higher education as I did throughout my tenure as Council Chair, even as I find myself compelled to advocate for a just resolution in my defense. My aspiration extends beyond addressing the present challenges to also safeguarding the integrity of UCT and preserving its reputation as a pillar of academic excellence,” says Ngonyama.

Issued by Babalwa Ngonyama, 1 February 2024