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Johannesburg Mayor in Hot Water over Alleged Misrepresentation and Financial Scandal Involving Regiments Capital

Published October 24, 2023
1 years ago

Johannesburg's Mayor, Geoff Makhubo, is currently under intense scrutiny over allegations that his firm, Molelwane Consulting, received substantial payments rising to R35.7-million from Regiments Capital. The controversy deepens further, with allegations that approximately R7.1-million of this sum found its way into Makhubo's personal bank account.



In 2018, Makhubo confirmed to amaBhungane that he had resigned from Molelwane Consulting and other directorship positions in November 2011. However, recent findings from the City of Johannesburg contract indicate that Makhubo still had active ties to Molelwane Consulting. The mayor's continued affiliation with the firm while overseeing city finances presents a clear conflict of interest.


As the controversy continues to surge, company records indicate that Makhubo continued to hold two-thirds of Molelwane Consulting till October of the previous year. Recently, evidence was presented at the Zondo commission into state capture, suggesting Makhubo did not let go of his financial interests in Molelwane.



The commission, led by Matthew Chaskalson, has identified a stream of money amounting to R35.7-million that was transferred from Regiments to Molelwane dating from 2008 through to 2016. This period coincided with Makhubo's tenure as treasurer of the ANC’s Greater Johannesburg region, up until when the ANC lost political control of the city.


On being confronted with the above evidence, Makhubo conceded that he had not resigned from Molelwane in 2011 as previously claimed, further arousing doubt and skepticism on his part.


Despite the evidence mounted against him, Makhubo maintains his innocence, claiming that he had no ill intentions in his dealings. The multiple discrepancies in his narrative, alongside his failure to adequately explain the substantial payments received, have drawn severe criticism and suspicion from the public and various stakeholders.


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