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New EAAB administrator to be announced

Human Settlements Minister Tokyo Sexwale is set to announce a new administrator for the Estate Agency Affairs Board on Thursday after the organisation was placed under administration and the at the end of July 2012.

Sexwale made the announcement in Johannesburg on July 31 after several disgruntled board members had resigned, including its chairperson, Ina Wilken.

The resignations followed the removal of Bryan Chaplog as CEO and Nonkululeko Ndebele as company secretary earlier in the month. Both have since been reinstated.

On August 8 2012, Moneyweb reported that Chaplog was initially appointed as the EAAB’s chief financial officer even though he had several judgements against him by various financial institutions.

It’s understood that Chaplog was appointed by former EAAB CEO Nomonde Mapetla who left the institution under a cloud in March 2011.

Asked to comment on the judgements and the fact that Chaplog held a senior position in the organisation, requiring input from him of a financial nature, the EAAB said his credit and/or financial records were disclosed at the time of his appointment.

Sexwale’s announcement came after months of uncertainty over the functioning of the board and internal strife that saw the coming and going of a number of acting CEOs since the former incumbent Nomonde Mapetla left the institution under a cloud in March 2011.

“Your house is in disorder. The windows are breaking from the inside,” Sexwale said as he chastised the EAAB for making headlines “for all the wrong reasons.”

Human Settlements says the new administrator will fulfil the functions of the dissolved board until such time that a new one is appointed.

(Moneyweb)


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