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Lembede row rages on

By Zukile Majova | Aug 12, 2009 | COMMENTS [ 0 ]

THE mud-slinging between the ANC Youth League and Songezo Mjongile, the former chief executive of the league's investment arm Lembede Investment Holdings, continues.

The league insists Mjongile "oversaw many questionable transactions, which impacted negatively on the image of Lembede Investment Holdings and that of the ANC Youth League".

The league has accused Mjongile of acquiring riches for himself and advised he should cooperate with auditors who are investigating the whereabouts of the league's assets.

"He instead was getting richer, most probably at the expense of resources which could have otherwise been directed to the organisation and social responsibility tasks of the development trust," ANCYL spokesperson Floyd Shivambu said yesterday.

"We will not be reducing our open and honest process to mud-throwing, but will expect detailed accountability on the whereabouts of Lembede's resources and assets, and Mr Mjongile has a lot to answer."

ANCYL president Julius Malema fired the first salvo last week when he suggested an investigation into the affairs of the league's investment company should zoom-in on Mjongile, who was chief executive of the company between 2001 and 2005.

Mjongile then told the Sunday Times Malema was "malicious and dishonest", adding that he "is talking about things he does not know about".

"Julius does not even know that the youth league made the decision that the chief executive should not run the financial affairs of the company. I never signed a single cheque while chief executive of Lembede, something that Julius is ignorant of. All the money affairs of Lembede were run by the league's lawyers," he told the Sunday Times.


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