Reserve Bank: Tokyo Sexwale's claims of donor fund theft point to a common scam
Businessperson and former Gauteng Premier Tokyo Sexwale alleged that a portion of the monies within the Heritage Fund, of whom he is one of two mandate holders, had been 'pilfered'.
FILE: Tokyo Sexwale. Picture: Reinart Toerien/Eyewitness News
2 hours ago
JOHANNESBURG - The South African Reserve Bank and National Treasury have on Monday responded to claims by businessperson and former Gauteng Premier Tokyo Sexwale that billions of rands destined for the so-called Heritage Fund had been 'pilfered'.
During an interview on eNCA, Sexwale confirmed the existence of the Heritage Fund, saying, "Yes, I am part of two people who are in charge of the Heritage Fund that belongs to a very powerful family out there in the world. This fund is here in South Africa already. It comes through the South African Reserve Bank. I am part of two people that are mandate holders for that fund. The fund is able to help the students with free education in this country. [Jacob] Zuma knew about the fund in 2016. Cyril [Ramaphosa] knew about the fund at that time."