Mail & Guardian
Mail & Guardian
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Forner ITB chairperson Jerome Ngwenya. Photo: Supplied
AFRILION

Development billions promised to Ingonyama Trust ‘go missing’

A European ‘investor’ was meant to have made an initial transfer of R12 billion into the board’s South African Reserve Bank account

  • Paddy Harper
8 min read
Follow the money: Ministerial deployees brought in by Minister Thoko Didiza to stabilise the Ingonyama Trust Board objected to the transfer of the R41 million, with one resigning over the matter. Photo: Gallo Images
INGONYAMA HOLDINGS

Ingonyama Trust’s R41m ‘is gone, next move is to drain its coffers’

The board ‘noted’ concerns and one member’s resignation over the payments, but went ahead anyhow

  • Paddy Harper
10 min read