South African businessman and ANC veteran, Tokyo Sexwale, made startling revelations about a ” Heritage Fund” that was set up by an Asian businessman under the name and style of White Spiritual Boy Fund with the aim of helping poor South Africans and South African students. According to Tokyo, the fund runs into billions of US dollars and was held at the South African Reserve Bank. He alleges however that the fund has since been accessed by questionable characters and that part of the money has already been stolen and transferred out of the Reserve Bank into various bank accounts belonging to individuals known to him.
Mr Sexwale alleges that when he was contacted by the founder of the fund about two years ago and requested to act as a curator for the fund. He was doubtful and reluctant at first considering the name and size of the fund. He, however, did his own investigations for almost a month and in the end, he was satisfied that the fund was genuine and that he could associate his name with it. He agreed to act as administrator for the fund.
He alleges that he and another South African by the name of Gordon Webb are custodians of the fund which was created for the purpose of providing assistance to countries in Africa and islands in the Indian Ocean. Mr Webb did not attend the media briefing held by Mr Sexwale on 22 April 2021 as, according to Mr Sexwale, Mr Webb was not feeling well.
During the media briefing, Mr Sexwale said that for two years he has been trying to alert the South African Minister of Finance and the Reserve Bank about the theft of the money, but that he was just simply ignored. He even tried to reach President Cyril Ramaphosa, but was unsuccessful.
The Minister of Finance, Mr Tito Mboweni, and the Reserve Bank’s response is that Mr Sexwale has been scammed and that their investigations could not find any such fund as is referred to by Mr Sexwale and that he is not the first person to speak about these alleged funds. Mr Sexwale is adamant that he has not been scammed and that there is a concerted effort to conceal the existence of the fund, which if it could be released, would have pulled several South Africans out of poverty and settled several debts on behalf of South African students.
Does the fund exist? Who are the people behind this fund? Is it worth investigating any further? It seems that there is more to Mr Sexwale’s story than meets the eye. In the coming weeks and months, we will be learning more about White Spiritual Boy and the Heritage Fund. When was it established? What is the relationship between the fund and South Africa’s gold reserves?