Gungubele should step down as Deputy Minister – experts

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CAPE TOWN – Calls are growing for the deputy minister of finance, Mondli Gungubele to resign from his portfolio at the National Treasury after being implicated in a series of emails linking him to corrupt activities with a number of individuals serving as executives at the Public Investment Corporation (PIC).

Some economic, academic and political commentators raised the question after Gungubele decided to collectively resign with a number of board members implicated in corruption allegations contained in an email penned by whistleblower “James Noko” to Tito Mboweni, the minister of finance.

On Friday evening, Mondli Gungubele, Xolani Mkhwanazi, Pitsi Moloto, Sibusisiwe Zulu, Mathukana Mokoka, Sandra Beswick, Lindiwe Toyi and Dudu Hlatshwayo offered their resignations after corruption allegations were levelled against some of the board members by a whistleblower who is understood to be an insider at the PIC. Gungubele and Zulu have since refuted the allegations and have opened themselves up to an investigation.

In the letter, they said:

“There have also been various allegations against at least four directors for now. Our assessment is that this may not be the end. There is clearly a concerted effort to discredit the board of directors to an extent that there cannot be any credibility to the work that is executed in fulfilling its fiduciary responsibilities. We, therefore, cannot help but view this as an attempt to bring the institution into a state of paralysis. These events have been unbearable to us as individuals and have undoubtedly had a negative impact on pouring professional integrity. It is for this reason that we now write to humbly request the honourable minister to release us as directors of the PIC.”