Associates of Paul Mashatile shut out of accounts by major bank

Associates of Deputy President Paul Mashatile have reportedly had their commercial banking facilities closed.

The move is reportedly in connection with multi-million payments made by a foreign government to a South African investment company since 2018.  

The directors of the company previously accompanied Mashatile on an investment roadshow to the Middle East in 2017.

Over R80 million in payments

Investec in 2019 initiated correspondence with the directors of financial firm Aventro regarding a long list of transactions.

City Press reported on Sunday that it had seen documentation from Investec detailing how the Qatari government transferred just over R85 million into Aventro’s bank account.

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Following deeper scrutiny by the bank, they chose to distance themselves from Aventro, citing “reputational risks”.

The directors, named by City Press, denied any wrongdoing and accused the publication of having an agenda against Mashatile and his associates.

Mashatile was appointed ANC Treasurer General in 2017 before ascending to the position of Deputy President last year.

Mashatile on investment drive in Ireland

Meanwhile, the deputy president has been meeting with dignitaries in the Republic of Ireland as he seeks to build tighter economic bonds.

Mashatile met with Irish Prime Minster Simon Harris on Friday, hoping to reinforce “historic and warm bilateral relations” between the nations.

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Using the establishment of the multi-party coalition government, Mashatile aimed to enstill a confidence in South Africa’s future prosperity.

“We emerged from a peaceful election and formed a Government of National Unity (GNU). All parties in the GNU pledge to uphold the 10 fundamental principles.” 

Recovered after fall

The international journey comes two weeks after Mashatile collapsed while giving a speech in Limpopo.

The 62-year-old became light-headed during the speech and was whisked away by support staff as he began to sink to the floor.

He took a week off from duty, with his team stating he was in “high spirits” and ready to resume duty.