The amount of R500 billion COVID-19 loan, has caused chaos due to corruption and maladministration within government. But according Finance Minister, Tito Mboweni the funds are still available as per components.
Meanwhile, the Ministerial Committee to investigate corruption happened around COVID-19 distress funds has been appointed.
Mboweni in responding to questions around R500 billion, he said the announcement has various components. He added that R200 billion is reserved for National Credit Guarantee Scheme (NCGS).
Q: What happened to the R500 billion. Answer: The R500 billion announcement has many components. R200 billion is the National Credit Gurantee Scheme and the rest are about Social relief of Distress, UIF, etc. It has not been eaten! Look out for my statement on the NT website.
— Tito Mboweni (@tito_mboweni) August 21, 2020
In addition, the rest is allocated according to social relief packages which include: UIF, Food parcel, Human settlement, PPE’s.
“Q: What happened to the R500 billion. Answer: The R500 billion announcements has many components. R200 billion is the National Credit Guarantee Scheme and the rest are about Social relief of Distress, UIF, etc.,” said Mboweni.
However, he said the money has not been eaten, and urged people to look for information in his National Treasury statement.
But the Minister should have attached documents to show as a proof of what he is telling the nation.
The delay from the ministerial committee to investigate corruption circulating around COVID-19 social relief funds, raises concerns to South Africans.
President Cyril Ramaphosa has assured South Africans that everyone who is involved in corruption will be held accountable.