Zuma declares his financial interests

Wednesday, March 10, 2010

Pretoria - President Jacob Zuma has on Wednesday provided a list of his financial interests to the Secretary of Cabinet, his lawyer Michael Hulley said.

Hurley said the list contains any gifts, benefits or financial interests held or received either by the President or members of his family as required in terms of the Executive Ethics Code.

There has been a row in the media in the past week following confirmation that Zuma had not yet declared his financial interests since taking office in May last year.

Members of the executive are required to make declaration of their financial interests within 60 days of taking office.

The Presidency has however said the reason for the delay in Zuma's declaration was that the President had been waiting for clarification from his legal team on whether he needed to declare.

While waiting for this clarification, he had also instructed that a submission be declared for purposes of declaration in the event that it was found that he has to declare

Hulley said the declarations are to be contained in both the public and private parts of the register held by the Secretary, in order to uphold the spirit espoused in the Ethics Code.

"This process, initiated by the President, was completed in consultation with the Secretary of Cabinet as is contemplated in terms of the Executive Ethics Code.

"Such engagement, which was supplemented by legal advice, had ensued over a period of time in order to ascertain the nature of the disclosure to be made, as well as the extent to which declarations of family members were required," he said.

Hulley said in deciding whether to accept or retain any gift, Zuma has applied the same high ethical standard he otherwise would have in respect of other members of the Executive.

"In any event, whilst these gestures are highly appreciated and of immense sentimental significance, none of the gifts are of extraordinary monetary value," he said.

Hulley added that Zuma does not hold any directorship, membership or shareholding in any company, either public or private, nor is he associated in any way therewith.