National Treasury, SARB deny claims made by Tokyo Sexwale

The National Treasury and the South African Reserve Bank (SARB) have denied claims made by ANC veteran and businessman Tokyo Sexwale, that billions of rands deposited into the Reserve Bank to help educate the poor have been stolen.

Sexwale made the claims during a television news interview.

He says billions of rands that were supposed to fund education for the poor and to contribute to the fight against COVID-19 are held in a heritage fund.

However, the SA Reserve Bank and Treasury say there is no such a thing, and that Sexwale could have been a victim of a scam.

Sexwale claims that former President Jacob Zuma and President Cyril Ramaphosa are aware of the fund.

He says when Zuma announced free education, he was referring to the fund, not government money.

Treasury and the Central Bank say correspondence has been received from Sexwale and many other people alleging donor funds have been stolen.

They have called on Sexwale to provide proof of the existence of such funds.

Sexwale has refused to comment further, saying a case has been opened and that this is now a subject of an investigation.

Finance Minister Tito Mboweni has also tweeted that Sexwale’s statement is untrue and unfortunate.

[MEDIA STATEMENT] @TreasuryRSA and @SAReserveBank have released a joint response to allegations by Mr. Tokyo Sexwale. For full statement: https://t.co/s7EjQtmSEE pic.twitter.com/amGtqgqyd4

— SA Reserve Bank (@SAReserveBank) April 19, 2021