[WATCH] Heritage Fund is real - Sexwale sticks to his guns on 'looted billions'
Businessman Tokyo Sexwale called a media briefing on Thursday to address the divisions he says have been caused by his claims about the looting of a "Heritage Fund"
Sexwale hit back at the dismissal of his red flag about the alleged stolen billions.
There are those who say 'Well done, Tokyo!... You are our leader' and there are those who are saying 'You've been scammed, Tokyo!' A third group just says: He's talking nonsense.Tokyo Sexwale
He claims that a huge sum of money was deposited with the Reserve Bank to pay for specific projects in South Africa, which include free education.
Sarb and National Treasury have said they have no record of the existence of the fund and therefore it must be a scam.
On The Money Show, Bruce Whitfield interviewed the Reserve Bank's Unathi Kamlana on his appointment as the new commissioner of the Financial Sector Conduct Authority (FSCA).
Kamlana says Sexwale's latest comments reflect the need to invest more resources into raising awareness of scams.
The context around this is the work we still obviously need to do to make sure that the public is aware of potential 419 scams. We've invested a lot of time and resources in the recent past to make sure that there is wider awareness.Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority
While part of the problem is ignorance... the other part is greed, even with those people that should - and do - know much better in terms of licensing institutions... They still want to try their luck.Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority
It's become clear that both the Reserve Bank and the FSCA still need to invest in further resources to make sure that people are aware of these scams.Unathi Kamlana, Incoming Commissioner - Financial Sector Conduct Authority
Listen to the interview with Kamlana in the audioclip below:
This article first appeared on CapeTalk : [WATCH] Heritage Fund is real - Sexwale sticks to his guns on 'looted billions'
Source : Picture: Abigail Javier/EWN
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