ANC veteran and businessman Tokyo Sexwale. File picture: Dan Balilty/AP
ANC veteran and businessman Tokyo Sexwale. File picture: Dan Balilty/AP

Billions meant for the fight against Covid-19 and education stolen – ANC veteran Tokyo Sexwale

By Baldwin Ndaba Time of article published Apr 19, 2021

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Johannesburg – ANC veteran and businessman Tokyo Sexwale has ruffled feathers over allegations that some of the billions of rand he raised to fight Covid-19 and to assist poor students, had been stolen, and police were on a mission to recover the funds.

Sexwale made the revelations on the eNCA Truth to Power talk show hosted by JJ Tabane on Sunday night when he detailed how he and a member of a prominent South African family raised billions. In the interview, Sexwale said he and this person, whose name he did not disclose, sourced billions from a single donor who is now asking questions about the whereabouts of the funds.

Sexwale said he made the discovery when he wanted to access the money and channel it to its targets, such as the fight against Covid-19 and to clear the rising debt of university students.

“The process was aimed at bringing the funds into our hands. In fact, we wanted to bring it to the economy of the country. We found some resistance. When we checked the resistance, we realised that part of the money has been stolen,” Sexwale said.

He said police were investigating.

“It is a police matter. Something has happened over there. A case was opened two weeks ago.

“The donor asked about the money and he said the money was supposed to be used for Covid-19 and for the students,” Sexwale said.

He said President Cyril Ramaphosa and his predecessor, Jacob Zuma, as well as Finance Minister Tito Mboweni were aware about the billions in the Heritage Fund.

Sexwale’s revelations came as institutions of higher learning and students are locked in a running battle with Minister of Higher Education Blade Nzimande about funding for institutions and the scrapping of students’ historical debts. It also emerged as politicians and businesses are facing criminal charges for Covid-19 tender irregularities which saw more than R2 billion PPE tenders awarded irregularly in Gauteng.

Other provinces have also been hit by Covid-19 scandals.

Sexwale was not available on Monday to give details on the origin of the Heritage Fund and when it was set up.

* READ THE RESPONSE FROM THE NATIONAL TREASURY AND RESERVE BANK HERE.

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Political Bureau

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