Independent probe clears NEF trio
An anonymous whistleblower made a total of 23 allegations against three senior employees.
JOHANNESBURG - The National Empowerment Fund (NEF) on Monday said serious allegations of wrongdoing levelled against three employees, including its Chief Executive Officer (CEO) Philisiwe Mthethwa, have been dismissed by audit firm Deloitte.
The firm carried out an independent investigation into the claims after Minister of Trade and Industry Rob Davies referred allegations made by an anonymous whistleblower to the NEF in September.
The allegations included claims that breaches of corporate governance, conflicts of interest, fraud, nepotism, tribalism and abuse of power had taken place at the NEF.
But the fund said the investigation found the claims to be baseless.
A total of 23 allegations were investigated against Mthethwa, who is the wife of Minister of Police Nathi Mthethwa, as well as Divisional Executive of Venture Capital and Corporate Finance Hlengiwe Makhathini and Fund Manager Nhlanhla Nyembe.
The NEF suggests more needs to be done to prevent malicious allegations from anonymous sources.