Bafokeng bankrupt, the chief escaping?

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It has come to our attention that since Niall Caroll resigned as Bafokeng chief financial investor, with a more than R1,5 billion handshake, the Bafokeng authorities have been cautioning bankruptcy.

It is reported that the chief acknowledged poor oversight and advised Council not to pursue the handshake as it was based on the contract the Bafokeng had with him (Niall). The chief went further to announce that platinum revenue has dropped, leaving the Bafokeng in the red.

It is reported that massive retrenchments are currently ongoing at the RBA and the COO’s powers diminished.

To top it all, the chief has announced that he is going into business for himself and is set on opening a family Trust. It is reported the chief is worried about the hardship his family experienced at the hands of the Magope regime when his father was exiled to Botswana.

Jacob Zuma was recently chastised for appointing himself a chairperson of a Non-Governmental Organization. The NGO called Masibambane Trust, is worth more than R1 billion. A lot of Rural Development Departmental budget was funneled to the NGO to implement what was essentially Departmental agricultural programs. It is understood the President has since resigned.

The moribund Bafokeng Development Trust and the recent failed attempt by the chief to register Bafokeng land in his name has effectively scuppered the chiefs plans to have total control over the Bafokeng assets.

His plans to open a private entity and his request to go on a long sabbatical has left much suspicion to a number of concerned Bafokeng communities.

2 thoughts on “Bafokeng bankrupt, the chief escaping?

    Boitumelo Kwele said:
    16/09/2014 at 12:40 pm

    Straight garbage

    Like

    Boitumelo Kwele said:
    16/09/2014 at 2:15 pm

    Total Garbage!!!

    Like

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