Controversial former chairperson of the Public Investment Corporation (PIC)-owned chicken producer Daybreak Foods, Bojane Segooa, has resurfaced at the National Student Financial Aid Scheme (NSFAS) as a member of the entity’s audit and risk committee (ARC).
Segooa was appointed by beleaguered NSFAS administrator Professor Hlengani Mathebula, whose own appointment is subject to judicial review in a high court matter scheduled for hearing on August 4.
The Sunday World has seen NSFAS email exchanges about its ARC meetings in which Segooa is among the people in the communique threads.
Left Daybreak under a dark cloud
Segooa abruptly left Daybreak under a dark cloud in May last year, where she controversially cashed out more than half a million rand in board fees before quitting with immediate effect.
The Sunday Times, at the time of Segooa’s resignation, reported that Daybreak was experiencing a financial crisis with unpaid staff and the chickens dying en masse. It is alleged she quickly demanded the payment of board fees to the tune of R1.2-million.
She reportedly usurped the powers of then Daybreak CFO, Aubrey Dali, and gave the powers to a subordinate, which enabled the payment of R625 000 to her and another R236 000 to her board colleague Kameshni Naidoo.
The Democratic Alliance (DA) had called on what it termed “labour abuse and animal cruelty at Daybreak” under Segooa after workers last year reportedly went unpaid, leaving families in crisis, while animals were allegedly being kept in unacceptable and inhumane conditions.
The DA, in a media statement last year, said one of the most horrific consequences of the alleged mismanagement was the mass euthanisation of more than 350 000 chickens. The scenes were so distressing that the SPCA described them as “traumatic”, with reports indicating that starvation and overcrowding forced this drastic action – a shocking reflection of just how deep the operational failures run at this publicly funded entity.
It was alleged that Segooa resigned amid this chaos and walked away with a R625 000 payout, while the company could not afford to feed its animals or pay its staff.
Soft landing at NSFAS
Insiders at NSFAS allege Segooa has since found herself a soft landing at the multi-billion rand entity without a transparent and competitive process.
“Horrible things are happening at NSFAS, and this lady is one of those who have been appointed without a job advert issued, just like the advisors since the Prof (Mathebula) took the reins,” said our deepthroat close to the developments.
Another insider said Segooa’s appointment was nothing short of the perpetuation of state capture, where questionable characters are shifted around public institutions without accounting for their sins.
“If you look at King Code requirements, she does not qualify for the audit and risk committee because if she has been asked to resign from an independent board, she lacks the necessary integrity,” said the source.
“This is classic perpetuation of state capture by the NSFAS administrator, which should be exposed for what it is.”
Segooa, in August last year, also jumped ship from JSE-listed RH Bophelo, where she was a non-executive director and chairperson of the ARC.
NSFAS confirmed that Segooa is now serving in their ARC, saying there is nothing wrong with her appointment.
“As a qualified CA, with extensive experience in audit and risk, Segooa’s joins her similarly skilled committee members, who jointly constitute a pivotal capacity for NSFAS’s turnaround,” reads a response from NSFAS.
“In appointing members to the Audit and Risk Committee, the Administrator acted within the applicable legislative and governance framework i.e. the Public Finance Management Act and the National Treasury Regulations, including the powers conferred on him guided by the need to ensure that the Committee comprises individuals with the appropriate expertise to provide independent oversight over governance, risk management, internal controls, financial reporting and compliance.
“The legislative framework requires that members possess the requisite independence, qualifications, skills and experience to discharge the committee’s statutory oversight responsibilities effectively.”
According to NSFAS, any suggestion of improrpiety in Segooa’s appointment “is therefore without legal foundation”.
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- Bojane Segooa, former controversial chairperson of PIC-owned Daybreak Foods, is now chairing the National Student Financial Aid Scheme's (NSFAS) audit and risk committee (ARC), appointed by NSFAS administrator Professor Hlengani Mathebula.
- Segooa left Daybreak Foods in May last year amid financial crisis allegations, including unpaid staff, poor animal conditions, and a R625,000 payout controversy amid mass chicken euthanasia.
- The Democratic Alliance condemned Segooa’s tenure at Daybreak for labour abuse, animal cruelty, and mismanagement, highlighting operational failures and humanitarian concerns.
- NSFAS insiders claim Segooa’s appointment lacked transparency and competitive process, accusing it of perpetuating state capture and breaching King Code governance standards.
- Segooa previously resigned from the JSE-listed RH Bophelo as ARC chairperson and faces ongoing scrutiny alongside the NSFAS administrator whose appointment is under judicial review.
Controversial former chairperson of the Public Investment Corporation (PIC)-owned chicken producer Daybreak Foods, Bojane Segooa, has resurfaced at the National Student Financial Aid Scheme (NSFAS) as a member of the entity's audit and risk committee (ARC).
Segooa was appointed by beleaguered NSFAS administrator Professor
Segooa abruptly left Daybreak under a dark cloud in May last year, where she controversially cashed out more than half a million rand in board fees before quitting with immediate effect.
It was alleged that Segooa resigned amid this chaos and walked away with a R625 000 payout, while the company could not afford to feed its animals or pay its staff.
Insiders at NSFAS allege Segooa has since found herself a soft landing at the multi-billion rand entity without a transparent and competitive process.
"Horrible things are happening at NSFAS, and this lady is one of those who have been appointed without a job advert issued, just like the advisors since the Prof (
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Segooa, in August last year, also jumped ship from JSE-listed RH Bophelo, where she was a non-executive director and chairperson of the ARC.
NSFAS confirmed that Segooa is now serving in their ARC, saying there is nothing wrong with her appointment.
“As a qualified CA, with extensive experience in audit and risk, Segooa’s joins her similarly skilled committee members, who jointly constitute a pivotal capacity for NSFAS’s turnaround,” reads a response from NSFAS.
“In appointing members to the Audit and Risk Committee, the Administrator acted within the applicable legislative and governance framework i.e. the Public Finance Management Act and the National Treasury Regulations, including the powers conferred on him guided by the need to ensure that the Committee comprises individuals with the appropriate expertise to provide independent oversight over governance, risk management, internal controls, financial reporting and compliance.
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ALSO READ: NSFAS administrator 'living large' without
