Siyanda Ndlovu
Digital Journalist
1 minute read
22 Apr 2021
10:16 am

Round 2: Sexwale to address heritage fund claims on Thursday

Siyanda Ndlovu

National Treasury and the South African Reserve Bank say there is no evidence of billions of rands being stolen from the central bank.

Businessman and former Cabinet minister Tokyo Sexwale. Picture: Gallo Images/Sowetan/Alaister Russell


ANC veteran and businessman Tokyo Sexwale is expected to address the media on Thursday at a venue yet to be announced after Treasury and the SA Reserve Bank dismissed his claims of theft of monies deposited with the central bank in a so-called heritage fund.

They said there was no evidence of billions of rands being deposited with and looted from the central bank.

Sexwale made these claims during an interview with eNCA.

He claimed that he was one of two people in charge of a fund aimed at helping students with free education, among other uses.

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He added that large sums of money were also going to assist with new bullet trains and help with the fight against Covid-19. Former and current presidents, Jacob Zuma and Cyril Ramaphosa, allegedly knew about the funds.

Treasury and the central bank responded that Sexwale appeared to have been the target of a scam.

Minister of Finance Tito Mboweni labelled Sexwale’s claims “untrue” and “sad”.

Mboweni also said that the 68-year-old “was a victim of the many scams abound [sic]”.

“Mr Tokyo Sexwale’s statement about stolen money is untrue, sad, and seems that he was a victim of the many scams abound. You cannot steal transmitted money from the central bank. How? His statement on television was unfortunate. Will reach out to him,” the minister said in a tweet.