CEO of Sambada Private Equity Bafedile Mafologele

Apology: An article titled "Municipal workers pension fund wants millions back from investment firm" published on IOL on 29 April 2018 originated from the African News Agency (ANA), a syndicated news distribution service. 

Subsequent to publication, Sampada Private Equity and its CEO Bafedile Mafologele disputed the allegations contained in the article. 

More particularly, Sampada and Mafologele dispute that the R340m investment deal entered into between the South African Local Authorities (SALA) pension fund and Sampada, is “questionable” or that there was any corruption involved. 

They further dispute any insinuation that SALA’s board was removed because of the alleged improper investment deal. 

On 14 June 2018, Sampada, Mafologele and a related entity Umthombo Wealth obtained a court order against the author of the article, freelance reporter Samuel Mungadze, interdicting him from publishing further allegations of this nature.

In those proceedings, Mungadze’s defences of truth and public interest alternatively reasonable publication were rejected by the court. “An overview of the papers show that (Mungadze) … is intent on publishing uncorroborated allegations and conclusions which are defamatory of (Sampada and Mafologele),” the court held.

We, therefore, withdraw the allegations contained in the article and apologise to Sampada and Mafologele for any harm that may have resulted.