NAPTOSA COMMENT ON THE 2017 NATIONAL SENIOR CERTIFICATE RESULTS
The President of the National Professional Teachers’ Organisation of South Africa (NAPTOSA), Mr. Nkosiphendule “Star” Ntantala commenting on the 2017 National Senior Certificate (NSC) results welcomed the improved overall pass rate of 75.1%. Mr. Ntantala commended the Department of Basic Education (DBE) on its management of the 2017 NSC examination involving 629 155 candidates. NAPTOSA notes that this figure is 45 000 less than 2016 NSC cohort. The stringent measures employed by the National and Provincial Departments of Education aimed at increasing the integrity of the NSC examination and reducing question paper leakages and copying that marred previous NSC examinations is applauded. This is indicative that the Department has heeded the Union’s call for better controls to be implemented. The lesson learnt is that it is possible to ensure examination integrity, said Mr. Ntantala. NAPTOSA commends all teachers and invigilators who made the process largely incident-free.
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Statement : PIC/GEPF statement following a meeting on Steinhoff
The Investment Committee of the Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) held a meeting yesterday to discuss the recent
developments regarding Steinhoff. It is important to note that notwithstanding the collapse in the Steinhoff share, the GEPF portfolio remains financially healthy, because of its diversified nature. It is also important to note that GEPF members’ benefits will not be changed by these developments, given that the GEPF is a defined benefit pension fund.The investment loss recorded was 0.6% of the total GEPF portfolio on 6 December 2017.
Despite the fall in Steinhoff share, the total GEPF equity portfolio had created a value of approximately R140 billion over the preceding 12 month period, and had performed better than the equity benchmark. Albeit a relatively small reduction in the total portfolio, and despite the signs of recovery in the share price this week, the PIC and GEPF remain deeply concerned about Steinhoff.
GEPF and PIC agree that the recent developments point to serious governance challenges at Steinhoff and that the following steps are necessary to secure the GEPF’s
interest in the company:
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