King Misuzulu kaZwelithini has accused a certain political party of being behind a plot to destroy Ithala Bank.Addressing more than 1 000 subjects...
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Dr Thandiwe Dlamini, the remaining board member of Ingonyama Trust, has accused her colleagues of deliberately undermining King Misuzulu to misappropriate Trust funds. Speaking at the king’s imbizo at Emashobeni Royal Palace in Pongola, KwaZulu-Natal, Dlamini took an oath to speak the truth and outlined over 10 allegations against the board and Trust management.Dlamini claimed that the king was accused of appointing himself as chair to steal Trust funds, but she asserted that it was actually the board and management who were guilty of this theft. She further alleged that the king illegally sold the Trust’s farm in Umhlali, north of Durban, to a friend. Dlamini specifically named Chief Executive Officer Vela Mngwengwe and Chief Financial Officer Siyamdumisa Vilakazi as key figures opposing the king’s leadership. She stated that they withheld financial reports from the king and other board members, keeping them under wraps.Additionally, Dlamini accused the CFO of being illegally hired due to not meeting all the necessary qualifications. She alleged that the CEO sought a R1 million increase in salary, while the CFO requested R600 000, all without informing the king, who is the chairperson and trustee. “What has happened within the board constitutes corruption and I propose that the trustee (the king) to open criminal charges against the CEO and CFO,” said Dlamini.She claimed that both officials resisted the king’s attempts to appoint forensic investigators, arguing he lacked the authority to do so, and that they effectively acted as the board themselves.Despite her opposition to these decisions, Dlamini stated she was consistently outvoted by those supporting Mngwengwe and Vilakazi. To bolster her claims, she played recorded clips of discussions about the king, emphasising that he was being undermined and disparaged.When the king dissolved the board, Dlamini was the only member unaffected by the decision, having been one of the two members recommended by the king to the board. In response to the allegations, board spokesperson Simphiwe Mxhakaza stated that the board would address the claims made against it in due course.willem.phungula@inl.co.za
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