Former Dimension Data CEO admits to secret involvement in office center sale

Jason Goodall, former CEO of Dimension Data and NTT Ltd, publicly admitted that he secretly participated in the purchase of Dimension Data's head office in Johannesburg in 2019 while simultaneously consulting for NTT on sales. He agreed to pay NTT approximately 208.6 million rand (US$12.5 million) as a settlement.

In a statement signed on October 5, 2026, and provided to TechCentral via the law firm Stein Scop Attorneys, representing NTT in the dispute, Goodall named four other former Dimension Data executives: Jeremy Ord, Steven Nathan, Athanasios “Saki” Missaikos, and Grant Bodley. These individuals also participated in the deal with him on both sides.

Goodall wrote in his statement: 'Our undisclosed interests were held through nominee owners in a structure created to conceal our names. Our participation and concealment of information constituted a very serious breach of fiduciary duties and misled NTT.'

This is the first public admission of guilt among all executives involved in the deal. Ord, Nathan, Missaikos, and Bodley deny their guilt and challenge the higher court's ruling against them. Director Werksmans, Darren Willans, who represents the former executives, directed the publication to mediator Neil Lazarus, who stated in a text message: 'I have not yet consulted with our clients or legal team. Any media interaction is premature.'

NTT confirmed the authenticity of this statement to TechCentral. It appears to be part of a settlement agreement between Goodall and NTT, as the document footer states 'NTT v Goodall — Settlement Agreement — execution version 5 October 2026.'

NTT's lawyers reported that the South African proceedings against Ord, Nathan, Missaikos, Bodley, Bruce “Doc” Watson, and real estate consultant Martin Epstein 'are ongoing.' Goodall is not listed in this group.

Background of the Deal

The 75,000 m² The Campus office park in Bryanston was sold in December 2019 to Identity Property Fund—a consortium led by Black women, headed by investment banker Sonja de Bruyn. Dimension Data leased back its premises, and this deal helped the company move from level 4 to level 2 under Broad-Based Black Economic Empowerment (B-BBEE) criteria. Bloomberg later reported that the price was 1.4 billion rand.

TechCentral first covered this news in January 2022, reporting that a forensic audit conducted by the law firm Herbert Smith Freehills at NTT's request following a whistleblower tip found that the former executives had failed to disclose personal financial interests during the sale. According to Goodall, they 'successfully continued to hide our involvement' until the whistleblower report in May 2021.

In November 2024, Johannesburg High Court Judge Denise Fisher declared the deal void. She found that six former executives—Ord, Goodall, Bodley, Nathan, Missaikos, and Watson—'entered into an illegal scheme aimed at misappropriating secret financial gain, putting them in conflict with the boards of directors.' She ordered The Campus to be returned to Dimension Data, now NTT Data, and imposed punitive costs against the executives and ID Propco, the company that purchased the property.

Watson is not mentioned in Goodall's statement, although NTT's proceedings against him continue. Fisher granted the executives the right to appeal in January 2025, and the Supreme Court of Appeal in Bloemfontein heard the appeal on May 11, 2026. Goodall was among the appellants. The decision was reserved, and it is unknown when it will be handed down.

Goodall's statement directly contradicts the defense put forward by the other executives. In August 2025, Ord, Bodley, Missaikos, Nathan, and Watson accused NTT of a 'cunning campaign' against them. They claimed that NTT knew about the management's potential interest in The Campus because the company was negotiating the sale of its African business as part of a management buyout, and that NTT itself developed the B-BBEE 'holding' scheme. They also asserted that The Campus was sold to the highest bidder within independent valuations, which NTT publicly ratified in January 2022, and that they offered to return The Campus to NTT 'without any benefit to us.'

Goodall rejected the buyout argument, stating that their behavior 'was not justified by any potential management buyout that we knew would be a separate transaction.'

NTT sued Goodall in the High Court of England in January 2023, seeking recovery of a severance package worth $17.6 million that he received in 2021. The settlement amount is about 70% of this sum. The executives may also face criminal charges. The publication Currency reported in August 2025 that the Hawks took testimony after NTT filed a criminal complaint following the high court's ruling.

Questions for NTT

TechCentral asked NTT a series of questions: does the settlement conclude all proceedings against Goodall; was the amount reduced in exchange for his admission; has Goodall agreed to testify against former colleagues; will NTT hand over his statement to the Hawks; has The Campus been returned; how does it respond to the other executives' claim that it developed the expansion structure itself; and how did its management fail to detect its CEO's undisclosed interest?

However, NTT declined to comment further while the proceedings are ongoing.

Goodall stated: 'I deeply regret my conduct and the damage caused to NTT. I sincerely apologize to NTT and all its employees.'

Questions for Goodall

TechCentral sent Goodall the following questions and awaits his answers. He had little time to respond, and TechCentral will publish his answers upon receipt.

The questions include: does he confirm signing the statement and whether it is part of the settlement agreement with NTT dated October 5, 2026; does the 208.6 million rand amount cover the NTT lawsuit in the High Court of England, the South African proceedings against him, or both; was he a party to the appeal against Judge Fisher's ruling, and did he withdraw his participation; why is he admitting this now, almost two years after the ruling; how significant was his interest in the buyer and what could he gain from the deal; who was the nominee holding his interests, and who created the structure; did he or anyone else receive a 'secret commission' mentioned in Dimension Data's court documents; does his statement name Ord, Nathan, Missaikos, and Bodley but not Bruce “Doc” Watson, and why; what role did Martin Epstein play; has he agreed to testify or otherwise cooperate with NTT in cases against others; have the Hawks contacted him or taken his testimony; does his settlement protect him from criminal prosecution?

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Discovery executives sold shares worth about 118 million rand after activating long-term rewards

Senior management of Discovery realized shares totaling almost 118 million rand after long-term rewards were activated at the end of September. Among the sellers were CEO Adrian Gore, who sold shares worth about 20 million rand, and CEO of Discovery Bank, Hilton Callner, who sold nearly 48 million rand.

The financial group disclosed this information in a stock exchange announcement, specifying that the shares were activated on September 30 as part of the Long-Term Incentive Plan (LTIP) and the BEE Employee Share Trust. Participants were offered several options upon reward activation: they could retain all shares and cover the tax liability themselves, sell enough shares to cover the tax, or simply sell their activated shares.

Nine executives collectively sold 450,224 Discovery shares between September 23 and 30 at a weighted average price of 261.939 rand per share, generating 117.9 million rand. Callner made the largest transaction, selling 182,508 shares worth 47.8 million rand. The announcement simply stated that these were sold shares, without explaining the reasons for the sale.

Gore sold 75,084 shares worth 19.7 million rand, and CEO of Discovery Invest, Kenny Robson, sold 63,962 shares worth 16.8 million rand. Similar to Callner's case, Discovery did not state that these transactions were made to cover tax liabilities.

CEO of Discovery Life, Rian van Reenen, sold 52,226 shares worth 13.7 million rand.

IOL BUSINESS

Five other executives sold shares specifically to cover tax liabilities arising from the activation of their rewards. Discovery co-founder Barry Swartzenberg sold 25,590 shares worth 6.7 million rand, and CFO Dion Viljoen sold 26,020 shares worth 6.8 million rand.

CEO of Discovery Corporate & Employee Benefits, Nonkululeko Pitje, sold 13,177 shares worth 3.45 million rand, while executives Stuart Cohen sold 8,594 shares worth 2.25 million rand, and Ayanda Seba disposed of 3,063 shares worth just over 802,000 rand. In total, transactions explicitly designated as tax payments amounted to approximately 20 million rand.

The remaining sales, estimated at around 97.9 million rand, were not related to tax liabilities in the Discovery announcement. These transactions followed the activation of rewards granted to executives in previous years and do not represent recently awarded shares.

It is also worth noting that the Discovery LTIP Trust acquired over two million shares from participants who chose to sell their activated shares. This over-the-counter deal included 2,045,458 shares worth 535.5 million rand and was conducted to determine the fund's net share position for future LTIP obligations.