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Fin24 reports that Dondo Mogajane has announced that he will step down from all professional roles and boards, including chair of the Government Employees Pension Fund (GEPF) and CEO of the Moti Group, in the wake of allegations made against him by the former chair of VBS Mutual Bank.
"It is with a deep sense of responsibility that I have made the decision to step down from all my professional roles and the boards that I have served, effective immediately. I believe in the importance of due process and remain confident that, in time, the truth will prevail, and my reputation will be fully restored,” he said in a statement on Monday. The GEPF confirmed on Monday that it had received Mogajane's resignation as a trustee and chairperson of its board. It added that deputy chair Eddie Kekana would take over the vacant chair role until further notice. Minister of Finance Enoch Godongwana issued a statement recognising Mogajane's decision to step down from the GEPF, and thanking him for his service. The news comes less than a week after Godongwana said that he would "deal with" the reputational risk to the GEPF represented by Mogajane. Tshifhiwa Matodzi, a convicted fraudster and the former chairperson of VBS, told the North Gauteng High Court earlier this year that Mogajane had taken a R1-million bribe before VBS collapsed. As part of his plea deal, Matodzi claimed that Mogajane had accepted the bribe in exchange for his intervention to withdraw a letter from the National Treasury that instructed municipalities to stop depositing funds with the bank. At the time, Mogajane was the Treasury director-general. He left the role in 2022
- Read the full original of the report in the above regard by William Brederode at Fin24 (subscription or trial registration required)
- Read too, Dondo Mogajane resigns from all boards, at BusinessLive (subscriber access only)
Get other news reports at the SA Labour News home page