Chaos in Jacob Zuma's MK Party, millions of cash mysteriously disappeared following treasurer-general Dr Thanti Mthanti's resignation

The Movement for Economic Change (MKP), former President Jacob Zuma’s political party, is embroiled in a scandal involving the alleged disappearance of millions of rands.

Three senior party sources, speaking on condition of anonymity, have revealed significant discrepancies in the party’s finances, raising serious questions about financial mismanagement and a potential cover-up.

The claims of missing funds surfaced following the resignation of the party’s treasurer-general, Dr Thanti Mthanti, earlier this month. News24’s inquiries into Mthanti’s departure prompted the revelation of substantial financial irregularities within the MKP.

According to the sources, the missing funds range from a low estimate of R11 million to a staggering R40 million. The money, they claim, comprises party subscriptions, donations, and funds received from the Electoral Commission of South Africa (IEC).

One source stated: “About R28 million went missing from the party. That's well known in the party. Initially, people were blaming [a known, high-ranking party leader] but, logically, that doesn't arise because the buck stops with the treasurer-general.”

This source, along with others, emphasised that while they don’t necessarily accuse Mthanti of theft, his role as treasurer-general necessitates accountability for all financial transactions. The source continued, highlighting the lack of internal action: "Members have tried to raise this issue with the highest echelons in the party, but there seems to be no interest in dealing with it because these claims have been going on since December."

The alleged missing funds have reportedly exacerbated existing divisions within the MKP. While one source estimated the missing amount at R11 million, another corroborated the R28 million figure, with a third suggesting the total could be as high as R40 million. All three sources expressed concern about a perceived lack of transparency and a possible attempt to conceal the financial irregularities. They described a culture of secrecy within the party, where sensitive matters are rarely documented in formal reports shared with party structures.

MKP spokesperson Nhlamulo Ndhlela responded to the allegations, stating: "How could we have hosted the rally if the money went missing? People are creative." He further stated that the party takes all allegations seriously and follows due process, including laying criminal charges where necessary. However, his responses were evasive and lacked concrete detail.

When asked directly about missing funds leading up to the party's inaugural rally in Durban on 15 December 2024, Ndhlela responded: "But money is missing leading up to the rally? I don't know what they're talking about. There is misconduct in other areas." He refused to elaborate on these "other areas" of misconduct.

The timing of Mthanti’s resignation, just weeks after replacing the previous treasurer-general, Menzi Ngubane, further fuels speculation. Ngubane’s removal, announced just 15 days before the rally, was attributed to unspecified reasons. Mthanti’s subsequent resignation, described by Ndhlela as a decision made after "careful reflection," leaves many unanswered questions. While Ndhlela stated that Mthanti would continue to advise the party on financial matters, the circumstances surrounding his departure remain shrouded in ambiguity.