MINISTER of Public Works and Transport, MatjatoMoteane, has been accused of being part of the scheme which committed Sekhametsi Investment Consortium (SMIC) to a massive M145 million investment into Prime Minister Sam Matekane’scompany without the approval of the SMIC board.
A leaked forensic investigation report by ForvisMazars Forensic Services (Pty) Ltd (Forvis Mazars), commissioned by SMIC in August last year, details how Mr Moteane— who left the SMIC board on 27 November 2024—together with three other board members, Leboela Lebete (then SMIC CEO), Relebohile Sefako, and Advocate Limpho Maema, pushed through the M145 million investment into Mr Matekane’s Verve Dynamics Incorporated (VDI).
The forensic report paints a stark picture of questionable governance, unilateral decision-making, and financial mismanagement at SMIC under Mr Moteane and his associates, raising serious concerns about the board’s accountability and oversight.
When contacted, Mr Lebete defended the board’s actions. He said they were board members, and as such, they had authority, indicating that shareholders delegate to the board, and that within the board, there were signatories, and he was one of them. Mr. Lebetesaid according to his knowledge, all these issues were approved by the board.
Mr Moteane could not be reached for comment as his mobile phone was unreachable.
