- Mar 26, 2010
Mahikeng manager ‘invested’ R69m mistakenly received from Treasury in VBS
More at: https://citizen.co.za/news/south-africa/2027072/mahikeng-manager-invested-r69m-mistakenly-received-from-treasury-in-vbs/Instead of returning the money, Thabo Mokwena deposited it while waiting for a letter from Treasury.
A parliamentary committee has heard how the suspended Mahikeng Local Municipality manager, Thabo Mokwena, failed to return a R69 million duplicate payment that was deposited into the municipal account from the National Treasury.
Mokwena allegedly decided that the municipality should invest the money – which was mistakenly paid to the municipality – in VBS Mutual Bank.
Minister of Cooperative Governance and Traditional Affairs Zweli Mkhize told a parliamentary committee that Mokwena’s conduct was “unbecoming”.
“In Mahikeng, Treasury accidentally made a R69 million deposit into the municipal account. When told about the mistake, the municipal manager [Mokwena] demanded that a letter be sent to him explaining how the money had landed in the municipal bank account.
“At a later stage, the municipal manager explained that cooperative governance took too long to send the letter, and the money was invested elsewhere,” said Mkhize.