Co-owner of Mabala Noise Entertainment and African National Congress Youth League’s (ANCYL) national treasurer; Reggie Nkabinde has let go of two of his companies.
MEC for Human Settlements and Cooperative Governance Paul Mashatile confirmed the report in a question-and-answer session in the provincial legislature on Tuesday.
“Nkabinde became a director of a company called Urban Dynamics around 2011‚ and also around the same time became a director of a company called Maluleke Luthuli. I have been informed currently that Mr Nkabinde has resigned from the two companies‚” Mashatile announced.
Apparently, Nkabinde resigned from these companies about two weeks ago. This is according to the information which the MEC has received.
Meanwhile, the two companies offer development planning services and also have other directors besides Nkabinde. According to Mashatile, the two companies have done some work with the departments worth a lot of money.
“Urban Dynamics performed work to the value of about R512-million‚ and this is over a period of over 17 years. It was first appointed in 1991.
“With respect to Maluleke Luthuli‚ the company performed work to the value of about R20-million‚ and this was since 2012‚” he added.
The businessman-cum-politician found himself making the headlines recently after the leader of the Economic Freedom Fighters (EFF) Julius Malema accused him of money laundering. According to Malema, he has been using his entertainment company as a front to commit fraud with government tenders.
In addition, Malema extended his accusing fingers to the Minister of Water and Sanitation Nomvula Mokonyane. In his opinion, Mokonyane is an accomplice who awards illegal tenders to Reggie through her department. Both Nkabinde and the minister denied all allegations leveled against them.
Thus, Reggie Nkabinde is currently in a legal battle with the EFF after the party opened a case of racketeering and fraud against him in August. The Hawks have confirmed that they are investigating the businessman.