Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development, Parks Tau, has appointed Senior Council Fana Nalane as Administrator at Gauteng Gambling Board (GGB) to ensure that there is a culture of corporate governance.
The former Board was unable to reach a quorum due to a number of resignations during the financial year. Subsequently, the remaining board members also resigned leaving the entity without a Board.
The GGB achieved a clean audit in the 2019/2020 financial year making this its fifth consecutive clean audit and one of few entities to have established such a track record.
MEC Tau remains confident that the GGB will be able to achieve yet another clean audit for the year ended in March 2021.
“The contribution of the gaming sector to the gross domestic product (GDP) in South Africa and to the Gauteng Province, has been exponential over the years. Since its inception, the GGB has collected an estimated gambling revenue of over R 14 billion on behalf of the Gauteng Province contributing approximately 17,5% to the Gauteng Provincial Revenue Fund in the previous financial year.”
The Administrator, Adv Nalane, has been given this responsibility for a period of six months until the next Annual General Meeting. The process to appoint a new Board will be published in order to afford all interested parties an equal opportunity to apply.