Exclusive: Government ministers and PIC exec implicated in corruption claims

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Steve Motale

JOHANNESBURG- This week a whistleblower has levelled allegations of corruption against PIC Board member, Sibusisiwe Zulu who is alleged to have approved transactions for her lover to the tune of R6 billion.

In the explosive email sent by a “James Noko”, which also implicates Deputy Finance Minister Mondli Gungubele, it claims that PIC board member Zulu who is a niece of ANC NEC member and COGTA minister Zweli Mkhize approved transactions for her live-in partner Mr Lawrence Mulaudzi to the tune of R6 billion.

According to the whistleblower, these include a controversial TOTAL deal where Mulaudzi was paid R100m for facilitation of which R40m was paid to Zulu and her uncle Mkhize.

“Mr Mulaudzi is the well-known PIC benefactor who was used by Dr Dan Matjila to pay R300k to the ex CEO’s girlfriend. The proceeding of this deal was the start of Ms Zulu lavish lifestyle where she splurged her ill-gotten PIC money on a multi-million rand mansion in the coastal Umhlanga Ridge suburb in Durban, including luxury vehicles,” read the anonymous tip-off.

The whistleblower alleges that Zulu has been using Mulaudzi to benefit from transactions that she approves in the committees that she chairs where she has the power to approve up to R2bn without the board’s consent.

“Through her scheme with the boyfriend, she has benefited over R600m in shareholding and well over R100m in fees which she uses to finance her lavish lifestyle. She recently acquired a R4m luxury Land Rover after the PIC approved a multibillion-rand deal for her boyfriend in 2018, which she uses as her personal car when she is visiting their multi-million rand love nest home in Morningside, Sandton, where she spends the majority of her time,” said the whistleblower.

Noko further alleges that she has also splurged on other luxury items such as a Porsche Panamera and a second Range Rover sport which are parked at her mansion in Umhlanga.

The whistleblower alleges that she also boasts about her “capture” and close political proximity to the new Deputy Minister and PIC chair, Mondli Gungubele, whom they have established a very close relationship to the effect that the deputy minister without consulting her and getting a go-ahead before any decision is made at the PIC.

“Both have cemented their power through the inclusion of the acting CEO who is a bosom friend to Ms Zulu in their cabal. The Staff at the PIC have revealed that kangaroo court is being run by the chairman (Gungubele),Ms Zulu and the acting CEO to get rid of all executives who served under Dr Dan Matjila in order to put their own candidates, which will allow them to continue with their looting, while protecting the people who are seen to be aligned to them,” reads the email.

Noko further alleges that a report that implicates the current acting CEO is sitting with Gungubele, and that the acting CEO has been protected due to an agreement that was reached between her and Ms Zulu which aims to protect her from any investigations that could implicate her on condition that she approves a few of Zulu and her boyfriend’s transactions which are already at different stages of approval at the PIC committees and run into billions and Ms Zulu stands to gain over R300m in fees.

“Since the appointment of the acting CEO, it has become common knowledge in the transaction market that if you want any deal to be considered by the PIC you need to seek a meeting with Ms Zulu’s boyfriend who will then talk to both Ms More and the Deputy Minister to get the go ahead. If you agree to their terms of sharing 50% of the transactional fees and 40% shares in the proposed transaction which will be distributed to Mondli, More and Zulu through selected proxies then your deal will be approved with no hassles.”

It is also alleged by the whistleblower that Zulu still has a corruption report that points to her having flaunted and irregularly granted gambling licenses during her tenure at the KZN gambling board, as the chair of the board, where she still needs to report to Mkhize who put her on the KZN gambling board when he was still a premier and moved her to PIC when he became a Treasurer General of the ANC.

In a response to the allegations on email seen by Africa News 24-7, Zulu said: “I’ve assessed these allegations against me. While I can send a response to the Board in relation to each allegation, I believe that these are of such a nature that they require an independent investigation so that they can be independently tested. I would be comfortable if the Board deals with the matter in a manner similar to what I advocated for in the previous James Noku emails. Then we can avoid any challenge to the process followed by the board and you are not seen to have covered up for me. I am more than willing to subject myself to any process that the Board will decide on. It is not only in my interest but also that of the board that this matter be dealt with soonest.”
See emails in full below:

Begin forwarded message:

From: Sibusisiwe <sibusisiwe@me.com>
Date: 28 January 2019 at 17:37:17 SAST
To: mondli.gungubele@treasury.gov.za, xolani@phathelainvestments.com, dudu@changeeq.co.za, lindi.toyi@gmail.com, trueman.goba@hatch.com, mathukana@kmcapital.co.za, Sandra PIC <sandra@sbassociates.co.za>, pitsipmoloto@gmail.com, matshepo.more@pic.gov.za
Subject: Fwd: Another PIC scandal

Dear Chairman and Colleagues,

I received a call from Ms Mokoka in relation to some task teamwork and in that conversation she made asked me if I had seen the email below making allegations against me. I informed her that I hadn’t. I asked her to forward it to me and I thought I would also send it to all directors in case they were also omitted in an email from James Noko. (Please see below)

I’ve assessed these allegations against me. While I can send a response to the Board in relation to each allegation, I believe that these are of such a nature that they require an independent investigation so that they can be independently tested. I would be comfortable if the Board deals with the matter in a manner similar to what I advocated for in the previous James Noku emails. Then we can avoid any challenge to the process followed by the board and you are not seen to have covered up for me.

I am more than willing to subject myself to any process that the Board will decide on. It is not only in my interest but also that of the board that this matter be dealt with soonest.

I’ll wait to be guided by the board in this regard.

Regards,

SNZ

Sent from my iPhone

Begin forwarded message:

From: Mathukana Mokoka <mathukana@kmcapital.co.za>
Date: 28 January 2019 at 17:01:00 SAST
To: “sibusisiwe@me.com” <sibusisiwe@me.com>
Subject: Fwd: Another PIC scandal

Sent from my iPhone

Begin forwarded message:

From: James Noko <noko.james@webmail.co.za>
Date: 28 January 2019 at 16:35:12 SAST
To: <Tito.mboweni@treasury.gov.za>
Subject: Another PIC scandal

Good Day

James Noko is back from the holidays

This is another ‘Thuma mina Campaign’.Hoping we shall emerge victorious against corrupt people.

PIC BOARD MEMBER SIBUSISIWE ZULU APPROVES R6NB DEALS FOR HER BOYFRIEND

PIC board member Sibusisiwe Zulu who is a niece of ex ANC TG politician Minister Zweli Mkhize, and an acting judge in KZN high court, has approved transactions for her live-in partner Mr Lawrence Mulaudzi to the tune of R 6 billion. These include the controversial TOTAL deal where Mr Lawrence Mulaudzi was paid R100m for facilitation of which R40m was paid to Sibusisiwe and her uncle, former TG Zweli Mkhize. Mr Mulaudzi is the well-known PIC benefactor who was used by Dr Dan Matjila to pay R300k to the ex CEO’s girlfriend.

The proceeding of this deal was the start of Ms Zulu lavish lifestyle where she splurges her ill-gotten PIC money on a multi-million rand mansion in the coastal Umhlanga Ridge suburb in Durban, including luxury vehicles.

While she was still married to her ex-husband, she kindled a secret love relationship with the well known Mr Mulaudzi who impregnated her.

Sibusisiwe has been using her live-in partner Mr Mulaudzi to benefit from a transaction that she approves in the committees that she chairs where she has the power to approve up to R2bn without the board’s consent. Through her scheme with the boyfriend, she has benefited over R 600m in shareholding and well over R100m in fees which she uses to finance her lavish lifestyle.

She is frequently seen being driven around Johannesburg in her boyfriend’s Mercedes Benz Maybach which costs R5m, including attending soccer matches with Mr Mulaudzi at various stadiums across the country, when her boyfriend’s soccer team, TTM (Tshakhuma Tsha Madzivhandila), that plays in the National first division is playing.

She recently acquired a R4m luxury Land Rover after the PiC approved a multibillion-rand deal for her boyfriend in 2018, which she uses as her personal car when she is visiting their multi-million rand love nest home in Morningside, Sandton, where she spends the majority of her time.

She has also splurged on other luxury items such as her Porsche Panamera and a second Range Rover sport which are parked at her mansion in Umhlanga.

Recently she has been heard boasting of her capture of the new Deputy Minister, Mondli Gungubele, whom they have established a very close relationship to the effect that the deputy minister without consulting her and getting a go-ahead before any decision is made at the PIC.

Both have cemented their power through the inclusion of the acting CEO who is a bossom friend to Ms Zulu in their cabal.

The Staff at the PIC have revealed that kangaroo court is being run by the chairman, Ms Zulu and the acting CEO to get rid of all executives who served under Dr Dan Matjila in order to put their own candidates, which will allow them to continue with the looting, while protecting the people who are seen to be aligned to them.

Mondli Gungubele has been trying to lobby the minister to restructure the board and make Ms Zulu the new Deputy Chair of the PIC board in order to complete their takeover strategy.

It has also been revealed that a report that implicates the current acting CEO is sitting with the Deputy Minister including internal audit minutes that shows that Ms More was the one who chaired and gave approval to the irregular granting of R4bn of Ayo Funds. What is peculiar is that all those executives and managers who worked on the deal have all been suspended by the acting CEO and the minister, but the acting CEO has been protected due to an agreement that was reached between her and Ms Zulu which aims to protect her from any investigations that could implicate her on condition that she approves a few of Ms Zulu and her boyfriend’s transactions which are already at different stages of approval at the PIC committees and run into billions and Ms Zulu stands to gain over R300m in fees. Since the appointment of the acting CEO, it has become common knowledge in the transaction market that if you want any deal to be considered by the PIC you need to seek a meeting with Ms Zulu’s boyfriend who will then talk to both Ms More and the Deputy Minister to get the go ahead.

If you agree to their terms of sharing 50% of the transactional fees and 40% shares in the proposed transaction which will be distributed to Mondli, More and Zulu through selected proxies then your deal will be approved with no hustles,
Ms Zulu still has a serious corruption report that points to her having flaunted and irregularly granted gambling licenses during her tenure at the KZN gambling board, as the chair of the board, where she still needs to report to. T.G put her on the KZN gambling board when he was still premier and moved her to PIC when he became a T.G

We ask the following questions?

1. How can an acting judge be allowed to sit on the PIC board?
2. How was she appointed as an acting judge whilst involved in the business of a financial institution?
3. Has she declared her love relationship with Mr Lawrence Mulaudzi, who is the largest benefactor of deals approved by the committee that she chairs at the PIC, to the board?
4. Has treasury conducted a lifestyle audit on her given the fact that she now lives a flamboyant lifestyle since her PIC appointment?
5. Where does she get the mandate to protect the acting CEO and CFO from the AYO saga whereas she was the chair of the committee that approved the transaction?

 

THIS IS A DEVELOPING STORY…