SCORPIO Exposed: Zweli Mkhize’s R6m ‘cut’ from PIC’s R1.4bn deal using Unemployment Insurance Fund money By PIETER-LOUIS MYBURGH PLMyburgh
Controversial businessman Lawrence Mulaudzi in 2018 pocketed a R47.5m advisory fee from a R1.37bn Public Investment Corporation deal. The very next day after his windfall, Mulaudzi paid nearly R6-million to a transfer attorney’s account for an upmarket townhouse bought by the family trust of top ANC leader Zweli Mkhize.
Mulaudzi’s company, Blackgold Oil and Gas, made the payment only one day after it had pocketed a R47.5-million fee for “advisory” work on the R1.37-billion PIC/UIF deal. “Nogu” also alleged that Mkhize was Zulu’s “uncle” and that she and Mkhize had shared in some of the spoils from Mulaudzi’s PIC deals.Some allegations evenThe Mpati Commission made scathing findings regarding Mulaudzi and Zulu’s involvement in PIC deals, but Mkhize was spared such censure.
The UIF took a 40% stake in Bright Glacier, which used the R1.37-billion to buy a 36.28% share in Bounty Brands’ holding company. Some of the emails alleged that Mulaudzi had pocketed a R100-million fee from the 2015 Total deal and that he had shared R40-million with Zulu and Mkhize.But something remarkably similar appeared to have occurred in relation to the R1.37-billion Bright Glacier transaction.
Before the property was registered in the trust’s name in May 2018, the transfer attorneys received a series of large payments, our investigation showed. Three days later, on 14 May, Bright Glacier transferred all of the UIF funds, along with an additional R14-million, to Bounty Brands’ holding company, an entity simply registered as K2015388659.
It is our understanding that the townhouse had fallen into a somewhat neglected state, hence the reduced price.We sent detailed queries to Mkhize regarding his trust’s property and the large payment from Mulaudzi’s company.Zulu was nearly as reticent. “There is no document signed by Dr Zweli Mkhize or any FICA documents reflecting his involvement or ownership of the trust. We are therefore not sure where your statement ‘Dr Zweli Mkhize’s ZLM Trust’ emanates from,” stated Mulaudzi.
After all, the R5.9-million payment from his company went directly to a transfer attorney’s account for no other purpose than the property deal.“Your previous response to me showed that you have made up your mind because you have unfortunately wrongly concluded and are ‘sure’ that I paid a ‘kickback’,” he said.We also wondered whether Bright Glacier Trading had known about the fee Bounty Brands had paid to Mulaudzi’s company.
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