Sexwale Expands on the Heritage Fund

Written by on 22 April, 2021

By: Lindelani Mbatha

ANC veteran and businessman, Tokyo Sexwale, says he reported his appointment to the Heritage Fund to ANC Treasurer Paul Mashatile and Finance minister, Tito Mboweni, two years ago.

Sexwale is addressing media in Johannesburg, on the Heritage Fund meant to help poor students with free education and fight against the economic impact of the COVID-19 pandemic.

The veteran found himself topping social media’s trending list this week, following his claims about billions of rand being stolen from the Fund.

However, responding to Sexwale’s allegation Mboweni described his utterances as a scam.

Sexwale says he accepted the position to lead the fund in January 2019.

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Sexwale adds that money from the Heritage Fund has been transferred to 6 individuals bank accounts, through South African commercial banks.

The Reserve Bank also described Sexwale’s allegations as unfounded, calling it a scam.

It said over the years, National Treasury and the SARB have received many such requests for, or promises of billions of rands or dollars, and from experience regard these as scams.

Sexwale says the Fund is based in Singapore and owned by a Chinese Businessman.

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