ANCYL R50m in the red

2013-08-11 08:00
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2013-08-06 10:12

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Polokwane - The ANC Youth League owes a whopping R50m – most of which was incurred during Julius Malema’s tenure.

The Sunday Times reported that the money woes have paralysed the league, which has not had a sustainable fundraising strategy since its investment arm, Lembede Investment Holdings, closed down after a national congress decision in 2008.

League member Magasela Mzobe said the league’s debt was growing steadily as more and more businesses and individuals claimed money they were owed.

“We are getting letters (of demand) every week,” he said. “To date it’s about R50m."

Mzobe said the league would call to account its former leaders, including its former treasurer-general, ANC national executive committee member Pule Mabe.

Assets attached

In May this year the ANCYL and former president Julius Malema were involved a dispute regarding unpaid legal fees, SAPA reported. The Cape Town High Court instructed the Sheriff to attach the organisation's assets in a bid to recover more than R100 000 in legal fees resulting a battle with Western Cape Premier Helen Zille.

Malema's partially built Sandown mansion was sold last earlier this year for R5.9m in an auction held to recoup R16m owed to the SA Revenue Service in taxes.
Read more on:    anc  |  ancyl  |  pule mabe  |  magasela mzobe  |  julius malema  |  polokwane

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