Zuma takes over MKP finances, appoints himself as ‘accounting officer’ | News24

Zuma takes over MKP finances, appoints himself as ‘accounting officer’

Former president Jacob Zuma.
Luba Lesolle/Gallo Images

• MK Party president Jacob Zuma recently told party structures that the party was in a “pitiful” financial position.
• The party reportedly inherited an estimated R28 million in debt, which former treasurer-general Mpiyakhe Limba acknowledged before he was dismissed and replaced by Zuma ally Brian Molefe.
• That intervention appears to have failed as Zuma has now taken over the party’s finance office.

MK Party president Jacob Zuma has appointed himself as the party’s “accounting officer” and frozen all bank accounts as a “temporary measure”, according to an internal letter that was shared with all structures.

This comes a month after News24 reported on the party’s “pitiful” financial condition, based on leaked internal letters that revealed severe cash-flow shortages and mounting debt.

The party reportedly inherited an estimated R28 million in debt, which former treasurer-general Mpiyakhe Limba acknowledged before his dismissal in January. He was replaced by former Eskom CEO Brian Molefe, a close Zuma ally.

News24 reported that landlords had taken action over unpaid rent: KwaZulu-Natal provincial offices in Durban were padlocked in July 2026, and the Polokwane office was ordered to vacate by 31 July after repeated missed payments.

Meanwhile, a spending freeze was imposed across party structures.

Despite that, party spokesperson Sifiso Mahlangu recently told News24 the party’s finances were not in good standing.

In Zuma’s 23 July letter, which News24 has seen, he told party structures that he was taking over as the “accounting officer” and had frozen all the party’s bank accounts as a “temporary measure”.

Section 2 of the party’s constitution grants Zuma the authority to hire and fire members and to direct party policy.

READ |MKP’s ‘pitiful’ financial condition: Letters lay bare party’s money woes

Zuma wrote:

In my capacity as president and accounting officer of the uMkhonto we Sizwe Party, and in the interest of sound financial governance, accountability and the orderly administration of the party’s financial affairs, I hereby give notice that all existing signing authority on the MK Party’s bank accounts is revoked with immediate effect.

In the intervening period, no existing signatory is allowed to exercise any signing authority.

“All financial institutions where the party maintains banking facilities are to recognise this temporary suspension of signing authority. Any transactions requiring authorised signatories shall be processed only once the new mandate has been communicated.”

Signing off his missive, Zuma said he would communicate the reinstatement of signatories’ powers in due course.

Zuma, who barely writes party memos, signed off this letter as the “president and accounting officer”.

On Thursday, News24 sought Mahlangu’s comments on Zuma taking over some decisions of the party.

He said he would respond after a meeting on Thursday night, but he had not done so.

On Friday morning, Mahlangu was asked to comment on why Zuma had taken over the party’s finances. He had not responded at the time of writing.

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