Zweli Mkhize allegedly earned R4.5 million for role in shady PIC deals

Zweli Mkhize allegedly earned R4.5 million for role in shady PIC deals

-The former ANC treasurer-general is implicated in several shady contracts involving the assets manager PIC

- He is accused of using his influence to ensure that underhand deals were approvedd

- Mkhize, however, denies the allegations

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Former ANC treasurer-general Zweli Mkhize has been implicated in payoffs worth R4.5 million for facilitating transactions with the Public Investment Corporation (PIC).

Mkhize is accused of having abused his office in order to help arrange the deals. He has, however, denied the allegations, according to News24.

This follows the mass resignation of the PIC's entire board.

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The PIC is an assets management company and is responsible for, among other duties, being one of the companies through which the government implements its BBBEE initiatives.

The company was under scrutiny due to irregularities regarding several of its contracts, including a R4.3 billion deal with Ayo Technologies. A commission of inquiry has been opened over the matter.

Additionally, court documents have revealed information regarding a R210 million oil investment made by the PIC. One of the documents shows that Mkhize was present at a meeting at Luthuli House regarding the contract.

The former treasurer-general is alleged to havepulled political strings in order to make the deal happen. Allegedly, he was going to earn almost five million rand for his involvement in the deal.

READ ALSO: Mmusi Maimane says corrupt politicians belong in jail, not in Parliament

This is just one of several dubious deals revealed in the papers. Others involve shady contracts regarding water supplies and a project aimed at getting prisoners to grow their own food.

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Source: Briefly.co.za

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