“We know as a matter of fact that the dishonest former leaders who milked the organisation and left it dry have now created other self-enriching schemes in the form of new political parties,” he told reporters in Johannesburg.
He did not name expelled African National Congress Youth League president Julius Malema, who started and now leads the Economic Freedom Fighters.
“We are now left here to ponder how we will save the ANCYL from its problems that emanated as a result of lack of leadership at that particular point in time.”
The ANCYL was briefing reporters on a High Court in Johannesburg decision last week to place it under provisional liquidation.
This reportedly means that the affairs of the ANCYL will be put in the hands of the Master of the High Court, and that its interim leadership is no longer in a position to make any decisions until the final order in January.
An events company in Bloemfontein applied for the ANCYL to be sequestrated over a R15 million debt dating back to 2008.
Masina said the ANCYL would continue to function as if there was no court judgment, unless it was told otherwise by a liquidator.
“All the staff of the youth league have been coming to work. No one is having any sleepless nights about what is going to happen.”
The ANCYL called on businesses and supporters to donate money to help pay its debt.
Masina said the next time the court called on the ANCYL to pay, it should be in a position to do so because of funds raised.
“We want to call upon good citizens of South Africa to help us contribute financially so we can rescue the organisation of [former president] Nelson Mandela.
“It’s either we pay or we close shop,” Masina said.
This did not mean that the ANCYL was for sale, he said.
“However, the youth league is in crisis financially, hence we call upon progressive… business people who understand the history and importance of the ANCYL to come on board and assist.”
Masina said the ANCYL was already paying for debts it could afford, but he did not know if the debt amount would increase, because every week it received letters of demand.
The ANCYL had set up an ad hoc committee consisting of its former presidents, treasurers general and lawyers to help.
They included former ANCYL presidents Malusi Gigaba and Fikile Mbalula, and former treasurers general Ignatius Jacobs and Pule Mabe.
Former ANCYL deputy president Ronald Lamola would be part of the legal team, with advocate Terry Motau SC.
“[They] have said they are willing to work with us hand-in-hand to go back to court so we can plead our case politically and legally,” Masina said.