Dondo Mogajane, chair of the Government Employees Pension Fund (GEPF) and CEO of the Moti Group, has announced his immediate resignation from all his professional roles and board positions.
This follows allegations in an affidavit submitted to the Gauteng high court by convicted fraudster Tshifhiwa Matodzi, the former chair of the collapsed VBS Mutual Bank. Matodzi claimed that while serving as director-general of the National Treasury, Mogajane accepted a R1m bribe to retract a letter that instructed municipalities to stop depositing funds with the bank. Matodzi’s affidavit was submitted as part of a plea deal.
VBS illegally solicited billions of rand from municipalities, which was at the core of its business, making any instruction to stop this practice a potential death sentence for the bank.
At a media briefing last week, finance minister Enoch Godongwana was asked about the reputational risk posed by Mogajane’s continued chairing of the GEPF. The minister acknowledged he had taken too long in making a decision and that he would do so.
Mogajane’s resignation spares the minister from having to make such a decision.
Mogajane has denied the allegations by Matodzi, but in a public letter announcing his resignation, he acknowledged “the gravity” of such claims.
“Recently, I have been confronted with unfounded and malicious allegations made by a convicted criminal with questionable motives. These are baseless accusations. 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.
“In light of this, I will not be engaging in further interviews or public commentary on this matter. 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 he had dedicated the past 30 years of his life to serving SA, and would now take an extended sabbatical to focus on personal matters and spend time with his family.
“I plan to write a book about my experiences in public service, recounting the challenges, triumphs and remarkable individuals I have encountered along the way.
“While this chapter of my career has drawn to a close, it is not the conclusion of my story. This period marks a pause, not an endpoint. At a later stage, I may decide to possibly re-enter the private sector and, maybe, even politics.”
Investigative journalism unit amaBhungane disclosed in an article that Mogajane is a family friend of the Mkhize sisters, whose nonprofit company was paid R1m by VBS. This money was allegedly destined for Mogajane as a bribe to stall the bank’s demise.
The GEPF board of trustees announced that deputy chair Eddie Kekana would assume the role of chair of the board until further notice.
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