By Michael Mayalo
In recent days, allegations have surfaced against Dondo Mogajane, the former director-general of National Treasury, regarding his involvement with VBS Mutual Bank. As someone who closely observed events unfolding during that period, I feel compelled to share my perspective.
Firstly, Mogajane’s reputation as a dedicated public servant of 23 years speaks volumes. Throughout his tenure, he demonstrated unwavering commitment to upholding the law and protecting South Africa’s financial integrity. His actions regarding VBS were in line with this ethos, as he vehemently opposed any unlawful activities involving municipal deposits.
I vividly recall the circular issued by National Treasury in 2017, under Mogajane’s stewardship, which explicitly warned against municipalities depositing funds in mutual banks such as VBS. This directive was not arbitrary; it was rooted in the clear provisions of South African law governing municipal finances. Municipalities are mandated to deposit public funds only in institutions regulated under the Banks Act, and VBS did not meet this criterion.
Contrary to recent claims, Mogajane consistently rebuffed attempts by Tshifhiwa Matodzi, then chairman of VBS, to circumvent these regulations. Meetings were held, decisions were documented in minutes, and at every juncture, Mogajane upheld the law. It’s important to note that his stance was not against VBS as a black-owned entity, but against its unlawful practices.
Furthermore, Mogajane’s proactive measures included collaborating with other stakeholders, such as the South African Reserve Bank and the Public Investment Corporation, ensuring a concerted effort to halt VBS’s illicit activities. His subsequent affidavits and statements in support of investigations further underscore his commitment to transparency and accountability.
Importantly, Mogajane’s integrity remains unblemished. There is no evidence to suggest any wrongdoing on his part, and allegations to the contrary seem driven by ulterior motives. His track record and the documented evidence from that time refute any insinuation of impropriety.
As we reflect on his tenure, it’s evident that Mogajane’s principles and values guided his actions then, just as they do now. His unwavering dedication to serving the public interest is a testament to his character. He stood firm against corruption and malpractice, contributing significantly to safeguarding South Africa’s financial systems.
In conclusion, Mogajane deserves recognition for his role in curbing the excesses of VBS Mutual Bank and upholding the rule of law. His legacy as a principled public servant remains intact, and it is crucial that we do not allow baseless accusations to tarnish his distinguished record. The truth, supported by facts and his unwavering commitment to transparency, prevails.
Michael Mayalo is a concerned citizen advocating for integrity and accountability in public service.
Watch Dondo respond in a video below:
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