ANCYL investigates missing millions

Operation of the league has been hampered since it was provisionally liquidated in November.

ANCYL national task team convenor Mzwandile Masina. Picture: SAPA.

JOHANNESBURG - The ANC Youth League (ANCYL) said on Thursday they were still investigating the millions of rands in assets which expelled President Julius Malema said the organisation owned.

The money is unaccounted for and the organisation has been investigating the issue for more than a year.

Mzwandile Masina, the convener of the national task team running the ANCYL, was asked on the Midday Report whether they are any closer to explaining where the money went or what it was spent on.

Masina said now that the organisation was clear from legal restraints, they would be meeting in the coming weeks to discuss the matter and take further necessary steps.

Expelled ANCYL President Julius Malema.

Operation of the youth league has been hampered since it was provisionally liquidated in November last year by the High Court, with it in the red to the tune of R15 million.

According to the court the debt was accumulated under the leadership Malema as a result of unsettled payments for a conference held in 2008 where he was elected.

Masina pointed out that after the provisional liquidation the Youth League had to attain permission from the courts in every decision they took.

The league's national task team coordinator Magasela Mzobe said the league was shocked by the provisional liquidation.

"If not contested it could have led to the liquidation of the African National Congress. We are therefore studying the verdict in order to determine our next step."

The league's national task team coordinator Magasela Mzobe (right).

Yesterday an application to have the ANCYL liquidated was withdrawn in the North Gauteng High Court in Pretoria after a last-minute settlement was reached with an events company.

The league was due to motivate why it should not be liquidated today but its legal team announced a settlement with Z2 Presentations and Palanquin Hospitality Management.

The ANCYL owed the companies around R17 million in bills for a 2008 elective conference but it would not disclose how much it had agreed to pay in the deal.

Masina says the agreement is confidential and the ANC did not give them any money.

"The matter was settled out of court and it doesn't necessarily mean that there was payment involved. So we want to keep the nature of the deal confidential."

He described the liquidation application as the league's biggest hurdle and says it could now return to organisational work.

Listen to full interview: