Sexwale to quit as Trillian chairman as 'state capture' probe goes to judicial inquiry
Investigation commissioned by Sexwale into company’s knowledge of Nenegate is due to wrap up in June
ANC veteran and former human settlements minister Tokyo Sexwale has announced the investigation he commissioned in 2016 into the implication of Trillian Capital Partners in 'state capture' can form part of an inquiry recommended by the public protector.
Sexwale announced in 2016 he had appointed advocate Geoff Budlender to investigate Trillian’s alleged prior knowledge of the axing of former finance minister Nhlanhla Nene in 2015.
In a statement released on Thursday, Sexwale said Budlender was expected to finish his investigation in June‚ after which Sexwale would resign from the Trillian board to focus on other business interests.
"I have reconsidered my position within the company and upon receipt of the report from advocate Budlender‚ I shall depart from chairman not because there may or may not be any wrongdoing at Trillian but due to the fact that my business model has changed‚" he said.
"I came here to be part of an asset management company and to eventually buy a stake in it. I did not expect the allegations whose investigations have taken longer than anticipated and can’t spend my time dealing with constant allegations that require adequate investigation and verification.
"While I believe in the skills and robustness of the company and its employees it’s also not in the interest of the company‚ its employees and clients to remain constantly in the headlines for the wrong reasons‚" he said.
Sexwale said the investigation had the full backing of the Trillian board and management had provided thousands of pages of documentation to Budlender.
"After carefully looking at all relevant matters I have realised that there are issues here that are much bigger than Trillian. Chief among them is that the president opens up and takes the nation into his confidence about how information that was supposed to be the sole preserve of the president ended up allegedly in the hands of private companies‚ such as alleged against Trillian. Therefore we support the proposition of a judicial commission that can only be appointed by a nonconflicted person such as the chief justice‚" he said.
After releasing her report‚ former public protector Thuli Madonsela recommended that a full inquiry be conducted into state capture.