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Sarb official: Gupta-linked Homix had 2 years to claim forfeited money

Elijah Mazibuko told the Zondo commission of inquiry on Friday that this usually meant that the implicated were involved in some criminal activity.

A YouTube screen grab of Elijah Mazibuko testifying at the state capture commission of inquiry on 7 June 2018.

JOHANNESBURG - A South African Reserve Bank (Sarb) official said Gupta-linked company Homix had two years to reclaim their forfeited money from the state, but they never did.

Elijah Mazibuko told the Zondo commission of inquiry on Friday that this usually meant that the implicated were involved in some criminal activity.

Homix is a company that earned millions in tenders from Transnet.

Mazibuko said Sarb flagged the company's bank accounts after it did cross country transactions worth over R51 million in 2015.

He said Homix directors had, to this day never, questioned Sarb seizing their millions.

“…I think when these accounts started coming in, they realised something was wrong. But some them had passed through already, that is why the R51 million passed through but were able to block a smaller amount which was R14.4 million.”

HOMIX WAS USED TO CHANNEL FUNDS OUT OF COUNTRY

Mazibuko said the Homix was simply used to channel funds out of the country.

The Sarb head of surveillance said people who let the state take their money without a fight, usually had something to hide.

“A normal company or normal person where there is legitimate trade and there is a misunderstanding, would come and make representation to clarify a situation. So, their inaction is typical behaviour expected from an illegitimate company.”

Mazibuko said he suspected the company was established only to transfer money outside the country and nothing else.

“A company with legit registration would be able to deal with this, and this one seemed like a letterbox company that was used to take money out of the country.”

Mazibuko is set to continue his testimony on Monday.

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