Meet Tshepo Mahloele – Big Capitec shareholder, ABSIP’s “CEO of the Decade” now accused by Holomisa as kingpin of corrupt network

JOHANNESBURG — The young democracy of South Africa is a noisy place, especially during periods of political power shifts. And after the ejection of Jacob Zuma, wild accusations are being thrown against both the guilty and innocent. Even in this context, a scathing five page letter penned on political party UDM's letterhead by its leader Bantu Holomisa is impossible to miss. Sent to president Cyril Ramaphosa and then surreptitiously distributed via the internet, Holomisa targets four black businessmen. He pegs financial services entrepreneur Tshepo Mahloele as the kingpin of this apparent "iceberg of corruption" which he claims has plundered the State pension fund. I met Mahloele this week and took along my recorder to hear his side. And got the story of a low profile financial service entrepreneur who rode the Capitec wave from R30 to R900 and whose private equity fund has invested $1bn into African infrastructure. An unsung hero or a corrupt villain? I know where my money lies. – Alec Hogg

This is The Rational Perspective, I'm Alec Hogg, and in this episode Tshepo Mahloele hit back, after being accused of creating an iceberg of corruption. Two weeks ago, Parliamentarian, Bantu Holomisa, sent a scathing 5-page letter on his UDM Party letterhead to President Cyril Ramaphosa, urging him to investigate 4 black businessmen, whom he accused of systematically plundering the Public Investment Corporation. This letter, supposedly confidential, is now widely available. Holomisa named Tshepo Mahloele as the kingpin in a corrupt nexus with PIC chief executive Daniel Matjila, former deputy finance minister Jabu Moleketi, and Warren Wheatley, a director of Mahloele's rapidly developing financial business, LeBashe.

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