7 December 2018

South Africa: Mashaba to Lay Charges Against Former Mayor Parks Tau and Joburg ANC Chair Geoff Makhubo

City of Johannesburg Mayor Herman Mashaba will lay charges against his predecessor Parks Tau and former mayoral committee member for finance Geoff Makhubo at the Johannesburg Central police station on Monday.

This comes after an amaBhungane report revealed how Makhubo allegedly secured an estimated R30m from the City of Johannesburg by acting as an influence broker.

"A report by amaBhungane shows how Makhubo and Tau orchestrated a windfall of at least R30m for Makhubo by allowing him to unduly act as broker for Regiments Fund Managers, giving the fund managers unfettered access to lucrative deals within the City," media specialist Andile Ndlovu said in a statement on Friday.

AmaBhungane reports that Makhubo's company, Molelwane Consulting, agreed to be paid 10% of R300m in fees from Regiments Capital after its division, Regiment Fund Managers, received a contract to manage the City's "sinking fund" in 2006.

Makhubo, who is a longstanding member of the ANC and chair of its Johannesburg region, will appear before the political party's integrity committee over the allegations, News24 reported on Thursday.

Mashaba further expressed his sentiments via social media through the hashtag #ANCLootedJozi.

Geoff Makhubo was injected with R30 million to keep Regiments Fund Managers relationship with @CityofJoburgZA lucrative.And of course, @Parks_Tau has no idea how this could be. Read it right here: https://t.co/JnLBbyXoJq #ANCLootedJozi pic.twitter.com/hJDsqKZ3W8-- Herman Mashaba (@HermanMashaba) December 6, 2018

In his response to amaBhungane, Parks Tau admitted that he was aware of Regiments and Geoff Makhubo's conflict of interest, yet he failed to not only disclose this information but assisted Makhubo in facilitating deals for Regiments.#ANCLootedJozi pic.twitter.com/bkdVmi9miz-- Democratic Alliance (@Our_DA) December 6, 2018

Source: News24

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