Bapo ba Mogale community anger over looted funds

Fears are growing among the Bapo ba Mogale that the investment company set up by the traditional council and Lonmin, in which the mining giant deposited millions of rands for their benefit, is close to financial ruin.

The 40 000-strong community is in the Rustenburg platinum belt, which includes Marikana.

The investment company created by the Lonmin empowerment deal, Bapo ba Mogale Investments (BBMI), is being sued by KMC Holdings for R30-million. The company alleges it has not been paid for nine months and that BBMI has illegally terminated its contract to transport ore.

At least two other companies claim the company owes them large amounts of money.



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