Gwamanda Under FSCA Investigation For Alleged Fraud
The Financial Sector Conduct Authority (FSCA) has officially started looking into Joburg mayor, Kabelo Gwamanda and his involvement with iThemba Lama Afrika.
The FSCA has started an investigation on Gwamanda and his association with a funeral services scheme that allegedly took advantage of Soweto residents. This scheme was operated through iThemba Lama Afrika, an organization Gwamanda is connected to.
YOU MAY ALSO LIKE: Three SAPS Generals To Face Corruption Charges
Some political parties in the Joburg council, including ActionSA and the Democratic Alliance (DA), have been urging Gwamanda to come forward and be honest about the allegations. However, Gwamanda has strongly denied any wrongdoing on his part.
The FSCA released a statement on Monday stating that the investigation is still ongoing. They want to clarify that the fact that they are investigating doesn’t automatically mean that Gwamanda has violated any financial sector laws.
The purpose of the investigation is simply to determine whether or not any such violation has taken place. Once the investigation is completed, the FSCA will share the outcome with the public.
YOU MAY ALSO LIKE: Godongwana Launches SEAD-SA Program In South Africa
In the meantime, the calls for Gwamanda to step down as the mayor are getting louder from ActionSA and the Democratic Alliance (DA).
They believe that, given the seriousness of the allegations, it would be appropriate for Gwamanda to temporarily step aside until the investigation is concluded and his innocence is proven.
