Pravin Gordhan is a South African politician, pharmacist, and anti-apartheid activist who has been active in SA politics since the late ’60s, holding different positions. A successful businessman and politician, Gordhan’s net worth have been estimated at around $5 million, growing significantly over the years. Being an excellent strategist, he is reported to have about 46,000 shares in various companies across Africa. With his duration of service in politics and business investments, it’s clear that Pravin’s net worth is funded from different channels. Most importantly, the various positions previously held by him in South Africa have contributed immensely to his wealth.
Pravin Gordhan Ventured Into Politics In The ’60s
Gordhan started his journey into politics in the late ’60s. He became a member of the Student Movement and Civic Structure and headed the group around the 1970s and 1980s. The politician took part in pioneering the foundational structure of the African National Congress in the 1970s. After his graduation, he was elected into the executive council of the ANC in 1974. He became a member of the Natal Indian Congress in the same year.
In 1991, Pravin Gordhan represented Natal Indian Congress (NIC)/Transversal Indian Congress (TIC) in the Multi-party talks at the Convention For a Democratic South Africa (CODESA). Being an active member of the NIC and TIC, he was appointed as the NIC/TIC delegate to the committee that saw to organizing CODESA in 1991. He was elected into the panel of chairpersons of the planning body of the multi-party negotiation process in 1993.
Pravin Gordhan served as the chairperson of the Parliamentary Constitutional Committee which saw to implementing a new constitution as a member of the parliament on joining the African National Council between 1994 and 1998.
Between 1998 and 1999, he served as a Deputy Commissioner for the South African Revenue Service. In 1999, he became the Commissioner for South African Revenue Service and served in the office until 2009.
The politician is no doubt good in the affairs of leadership as he became the chairperson of the World Customs Organization (WCO) and was active in service from 2000 to 2006. He also served as the chairperson of the Forum on Tax Administration (FTA) under the Organization for Economic Corporation and Development from 2008 to 2009.
The Activist Became The Minister Of Finance In 2009
Having served in various political posts exceptionally, Pravin Gordhan was appointed into the presidential cabinet by President Jacob Zuma on 10th May 2009 as the Minister of Finance. He served in the position for a period of five years and was succeeded by Nhlanhla Nene in 2014. Being an experienced leadership figure, he was elected into office as the Minister of Cooperative Governance and Traditional Affairs in 2014. Pravin’s impact as the Minister of Finance spoke volumes for him as he was re-elected into the office of the Minister of Finance on December 14, 2015.
Pravin Gordhan Is Currently the Minister Of Public Enterprises
Pravin Gordhan is no doubt a competent politician who has been serving South Africa since the ’60s. The 72-year-old politician was elected as the Minister of Public Enterprises on 27th February 2018 and was re-elected on May 2019 to oversee state-owned companies such as South African Airways, Eskom, Denel, and many more. As the Minister of Public Enterprises, he earns R200,136 monthly and R2,401,633 annually with other entitlements that come with the position.
Summary Of His Positions In Government Offices
- Chairman of Convention of a Democratic South Africa: 1991- 1994
- Co-chairperson transitional Executive Council: 1991- 1994
- Chairperson of the Parliamentary Constitutional Committee: 1994- 1998
- Deputy Commissioner of the South African Revenue Service: 1998-1999
- Commissioner Of the South African Revenue Service: 25 May 2014-14 December 2015
- Chairperson of World Customs Organization: 2000- 2006
- Chairperson of the Forum on Tax Administration (Organization for Economic Corporation and Development): 2008- 2009
- Minister of Finance: 11 May 2009- 25 May 2014
- Minister of Cooperative Governance and Traditional Affairs: 25 May 2014- 14 December 2015
- Minister of Finance: 14 December 2015- 31 March 2017
- Minister of Public Enterprises: 28 February 2018 till date
Business Ventures Pravin Gordhan Is Involved In
Pravin Gordhan is an illustrious businessman who has acquired about 46,000 shares in more than 40 companies in Africa. This has immensely added to his net worth as he has bagged a lot of money from the businesses he has ventured into so far.
The minister has shares in various industries, ranging from Standard bank, Bidvest, Tiger brands, Imperial Holdings Limited, BHP Billiton Plc, Nedbank, Impala Platinium Holding, Spurcorp, Pick and Pay Holdings Limited, Naspers, Growth point, Hyprop, Spar, Mr. Price Group, EOH Holdings Limited, MTN, ASPEN, Rand Merchant Investments, Sasol, Remgro Limited, Reinet Investment SCA, Woolies, SABMiller PLC, Steinhoff International Holdings and many more.
Biggest Achievements Of The Politician
Pravin Gordhan is a polymath who has bagged many honors while in office. He got the honorary Doctor of Commerce from the University of South Africa in May 2007. In June 2007, he bagged the Doctor of Law degree from the University of Cape Town. Pravin’s love for knowledge is exceptional as he also acquired the Doctor of Technology degree from the Central University of Technology. He equally got a Doctor of Business Administration degree from Henley Business School UK in November 2018.
Pravin Gordhan Has A Net Worth Of $5million
Pravin Gordhan’s net worth has been estimated to be $5 million which he apparently raked in through politics and business investments. His net worth has ranked him to be among the richest politicians in his country.
Pravin Gordhan was awarded by the President of India with the Padma Bhushan award which was given to him in India in 2009. He was also given the Pravasi Bharatiya Samman award in South Africa by the President of India in 2010.
A Look At The Fraud Charges Against Pravin Gordhan
As a public figure who occupies a sensitive position in politics and has done notable works in the country, controversies are bound to come up. In his attempts to fight corruption, Pravin Gordhan has been highly criticized by those involved in corrupt practices. His worst critics have been from the Gupta family, Economic Freedom Fighters (EFF), and some ANC members who are involved in corrupt practices. His middle name Jamnadas has been cajoled mainly by Twitter critics and his Indian ethnicity is seen as a factor of disapproval in his political post.
Before the 2016 budget speech that was to be held on 24th February 2016, the Hawks sent 27 questions to Pravin on the alleged rogue unit at South African Revenue Service. Having served as the commissioner in 2007 when the unit was set up, he declared that it was above board and was approved by ministers. The time framing of the question was disapproving to many, as well as Pravin Gordhan, which he tagged a distraction to the budget to be held the following day. Pravin Gordhan however stated that he would answer the question in due time after studying them. Eventually, the discoveries, persuasions, and deductions concerning the report were dismissed by the international auditing firm KPMG in September 2017.
Pravin Gordhan faced more fraud charges by South Africa’s state prosecutor in October 2016 for permitting a former SARS colleague to retire early and equally rehiring the same person as a consultant. However, this charge was dropped a few days later.
Pravin Gordhan appealed to the North Gauteng High Court in October 2016, stating that there should be no interference with the major banks’ verdict to shut down the Oakbay Investment Accounts which the court ruled against, tagging it unnecessary in August 2017.
In 2019, the public protector, Busisiwe Mkhwebane, released a report asking the president to prosecute Pravin Gordhan following the past allegations of fraud in his former office SARS. However, Pravin’s legal team defended him, stating that it was legally wrong and a political plot to bring Pravin down. In July 2019, the Gauteng Division of the High Court of South Africa ruled the charges, stating that they were unclear and inconsistent.