Breaking: Black Business Council CEO, Mohale Ralebitso Resigns


Black Business Council officially announce the resignation of its Chief Executive Officer Mohale Ralebitso.

BBC announced Ralebitso’s recognition saying he tendered his resignation so he could pay more attention on his investment- Itataise Investments of which he is founder and chair.

Mohale Ralebitso only spent about a year at the BBC as its CEO but being an aspiring industrialist he will not be lost to the sector and the general transformation agenda to which BBC is an active leading component.

 Read Also: SA Democracy Is Government By The Few, For The Few – Research Says

Mohale Ralebitso, resigned days after his name appeared among a list of executives supporting Finance Minister Pravin Gordhan and there were speculations that his resignation was related to his support for the minister.

However, the BBC denied at a media briefing in Johannesburg that Ralebitso quit because he had been part of a group of 81 CEOs who were opposed to the charging of Finance Minister Pravin Gordhan.

“I extend my gratitude to the BBC for the trust it placed in me and the opportunity to serve South Africa,” Mohale said in a statement.

Meanwhile, the BBC President Danisa Baloyi said Mohale’s time with the organisation had placed Mohale in good stead to position BBC as an influential organisation as a brand, both in the private and public sectors.

Mohale remains a fervent believer of the BBC’s mission directing the council to advance the cause for black people to become equal participants in the mainstream economy as owners and controllers of enterprises in line with the country’s demographics.

He left behind a management team that he worked hard to strengthen and with capability for continued day to day operations until a suitable replacement is identified.

The BBC has been criticized by the likes of AngloGold Ashanti chairperson Sipho Pityana for throwing its weight behind President Jacob Zuma, especially amid the scandals surrounding his government.

 The presidency however noted that BBC’s reasons for supporting the president include the progress made under Zuma’s administration in advancing black economic empowerment.

 Read Also: Free State ANC Says Mthembu Must Account For His Reckless Utterances,

This includes the establishment of a Small Business Development Department, the Black Industrialists Programme and the participation of South Africa in Brics and the participation of black business in the Brics Business Council.

 Its members include associations such as the Black Management Forum, the Association of Black Chartered Accountants, and the Association of Black Securities and Investment Professionals and its mission is still centered on key elements that include the establishment of BBC Capital, participation in the Presidential CEO Initiative and reinforcing the BBC transformation committee with particular emphasis on financial sector transformation, and BBC’s participation in the Black Industrialist Programme.