Floyd Shivambu alleges R7 million looted monthly from MK party funds
Floyd Shivambu, former Secretary-General of the uMkhonto weSizwe (MK) Party, has alleged during a media briefing today June 19, at Mhulu Luxury Boutique Hotel in Midrand, that approximately R7 million is being embezzled monthly from the party’s funds.
He claimed this financial misconduct was a key reason for his removal from the secretary-general position, stating that he was targeted for raising concerns about the looting internally.
Shivambu further asserted that the party’s leadership, including those close to MK Party leader Jacob Zuma, were involved in or complicit with the misappropriation, which he said risked the party’s deregistration by the Independent Electoral Commission (IEC).
He noted that multiple secretary-generals and treasurers-general were removed for questioning these withdrawals, suggesting a pattern of suppressing dissent within the party.