Sat Oct 22 03:58:12 CAT 2016


By unknown | Mar 17, 2009 | COMMENTS [ 0 ]

Canaan Mdletshe

The IFP yesterday "named and shamed" several high-ranking ANC officials and their relatives who they accused of benefitting illegally from the Ithala Bank.

The party accused current bank leaders of allegedly awarding loans amounting to R58million to ANC officials and or their relatives.

The IFP said its "investigation" had dwelt on individuals who "received R10million and more".

IFP chairperson Zanele Magwaza-Msibi and Lionel Mtshali, the party's financial spokesperson, said in Durban that MEC for finance and economic development Zweli Mkhize, his wife May, Pretty Mbanjwa, the wife of provincial director-general Kwazi Mbanjwa, Ithala chief executive Sipho Shabalala and his wife Ntombi all benefitted. Others allegedly include former Ithala chief executive Sipho Nyembezi, board chairperson Precious Lugayeni, the bank's audit and risk manager Phillip Ntsimane and Moshin Mia, the son of Ithala director Mac Mia.

The IFP also fingered Nelson Mandela's granddaughter Nandi and businesswoman Sizani Dlamini-Dubazana.


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